facebook
twitter
rss
account
search
search
 

IMF considers tax on financial sector

Oct. 3, 2009 at 10:12 AM   |   Comments

ISTANBUL, Turkey, Oct. 3 (UPI) -- The financial sector could be taxed to prevent another severe economic downturn, the head of the International Monetary Fund said in Turkey.

"Having some money coming from the financial sector to create a kind of fund for insurance or funding for low-income countries is something that we are going to consider," Dominique Strauss-Kahn said Friday in Istanbul before the IMF-World Bank annual meeting.

Strauss-Kahn predicted global growth will return at a lower level than before the crisis and warned against jettisoning a stimulus strategy too early, The (London) Independent reported Saturday.

Addressing the effects of the downturn on the Caucasus and Central Asia, IMF Director Masood Ahmed said the region likely would see growth drop from 6.6 percent in 2008 to 1.5 percent in 2009.

"The region as a whole should see a modest recovery in 2010, although the degree of the upturn will vary among countries," Ahmed said in a release Saturday. Energy importing low-income countries, such as Armenia, Georgia and Tajikistan, still face a difficult year ahead, Ahmed said.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
New Navy sub ready for outfitting, testing New Navy sub ready for outfitting, testing
2
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
3
New F-35 sustainment system undergoing flight testing New F-35 sustainment system undergoing flight testing
4
Apple to authorities: No iPhone user data, even with a warrant Apple to authorities: No iPhone user data, even with a warrant
5
API: Oil imports at historic low API: Oil imports at historic low
Trending News
Video
x
Feedback