Recommendations and coordination are always accepted.
But its bad enough the Congress gave the Bush Administration $750 billlion to hand out to their favorite banks.
No way should the money be given to the IMF to actually distribute for fiscal stimulus. That is one step closer to world government.
Economic Times
IMF requires $1.2 trillion to boost world economy
18 Nov, 2008, 0139 hrs IST, AGENCIES
TRIPOLI: Up to two percent of the world's income, or 1.2 trillion dollars, should be spent on reviving the global economy, the head of the International Monetary Fund said in Tripoli on Monday.
Dominique Strauss-Kahn, the fund's managing director, called for "massive" and coordinated use of budgetary policy to overcome the crisis.
"It is time to use all instruments," he said at the opening of a conference on economic integration in the Maghreb region, urging a budgetary "push" of two percent of countries' gross domestic product.
On a world scale, this would add up to 1.2 trillion dollars.
"A coordinated budgetary policy sharply increases the effect of the policy," Strauss-Kahn said.
He indicated that he would favour a further interest rate cut by the European Central Bank.
