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Treasury Secretary Previews IMF, World Bank Meetings



Published on 10 April 2014



by Office of the Spokesperson

(WireNews)

Washington, D.C.

Ahead of the April 11–13 Spring Meetings of the International Monetary Fund and the World Bank, U.S. Treasury Secretary Jacob Lew previewed the discussions in a television interview.

The Spring Meetings will focus on promoting global economic growth and development.

“On the U.S. economy, Secretary Lew discussed the importance of investing in infrastructure combined with business tax reform to bolster the continuing economic recovery,” said Holly Shulman, a Treasury Department spokeswoman. “The secretary noted how the tough decisions the U.S. made six years ago during the financial crisis have made us a leader in economic growth amongst advanced economies today.”

“There are many parts of the economy that still could do better,” Lew said, “and we have to continue to pursue policies to try and make sure that we boost the chances of that happening.”

Lew touched on Europe’s modest economic growth rates and the policy decisions that could be taken to help stimulate demand. “On China, he repeated how we have been clear with its senior government officials that they should move toward a market-determined exchange rate,” Shulman said.

Lew also discussed the growth in Japan’s economy after more than 15 years of deflation and stagnation, Shulman said.

The U.S. sanctions against Russian and Ukrainian individuals and entities for actions undermining the sovereignty of Ukraine were a subject of discussion in the interview. “We want Russia to look for a way to make decisions that will reverse what it has done and not make further incursions into Ukraine,” Lew said. “The best thing for Russia and the best thing for the world is for Russia not to take the steps that cause further sanctions to be necessary. But there should be no illusion that we’ve done everything we can do. We’ve put in place a blueprint that makes clear there’s quite a bit more we could do.”


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Posted 2014-04-10 18:13:00