IMF calls for response to inflation
Published: May 9, 2008 at 7:56 AM
WASHINGTON, May 9 (UPI) -- International Monetary Fund First Deputy Managing Director John Lipsky called on governments to mount a strong defense against inflation.
"To put the issue starkly, inflation risks have re-emerged as a global challenge following a long absence," Lipsky said in a speech Thursday at the Council on Foreign Relations in Washington.
Lipsky said governments should promote investments in energy and improve agricultural policies, IMF's online Survey Magazine reported.
"The humanitarian challenges of higher food prices will not disappear anytime soon," he said.
Lipsky also said it is likely high oil prices wouldn't retreat substantially and called for a demand-side response to the issue as well as increased investment in oil production.
He also called on governments to increase agricultural infrastructure and reduce biofuel subsidies.
"To put the issue starkly, inflation risks have re-emerged as a global challenge following a long absence," Lipsky said in a speech Thursday at the Council on Foreign Relations in Washington.
Lipsky said governments should promote investments in energy and improve agricultural policies, IMF's online Survey Magazine reported.
"The humanitarian challenges of higher food prices will not disappear anytime soon," he said.
Lipsky also said it is likely high oil prices wouldn't retreat substantially and called for a demand-side response to the issue as well as increased investment in oil production.
He also called on governments to increase agricultural infrastructure and reduce biofuel subsidies.
© 2008 United Press International. All Rights Reserved.
This material may not be reproduced, redistributed, or manipulated in any form.
This material may not be reproduced, redistributed, or manipulated in any form.
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