The International Monetary Fund (IMF) in spite of all the talk about reform is pushing for fiscal adjustment around the world. The IMF argues overheating in the developing world, particularly in China and Latin America, and excessive debt accumulation in the developed world requires fiscal adjustment to reduce the risks of inflation and debt default.
The IMF has suggested in their last Regional Economic Outlook Report that the Latin American economies that have recovered swiftly from the global financial crisis may be at risk of overheating. Read the rest here.
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