(MENAFN- Trend News Agency) U.S., WASHINGTON, April 19 . Theworld economy is getting a very soft landing, said MohammedAl-Jadaan, chair of the International Monetary and FinancialCommittee (IMFC) during a briefing held as part of the IMF SpringMeetings in Washington, Trend reports.
“Actually, what is happening now is a lot better than weexpected. The global economy is more resilient. Inflation is comingdown in most countries, and generally, we are getting to a verysoft landing,” he said.
Al-Jadaan noted that the World Bank and the IMFitself have faced multiple global disruptions over the last fewyears.
“Prospects are improving, which is very positive, but numerouschallenges remain, and we need to be vigilant,” added thechair.
He noted that the membership agreement on thepriorities that were tabled is a big achievement.
“This is very important to make sure that the way forward we areall collectively working in a cooperative manner to deal with thechallenges that we face. In precautionary balances, we are expectedto reach medium-term targets of SDR $25 billion for the first timethis month. This is a target that we set for ourselves about 15years ago, and achieving it this month is really good. It basicallyprovides a very good buffer to support membership and deal withshocks,” he explained.
Finally, as Al-Jadaan said it was agreed on the IMFway forward, supporting the debt restructuring under the G20 commonframework agreements.
The Spring Meetings of the International Monetary Fund and theWorld Bank Group kicked off on April 15.
The main ministerial meetings and events will takeplace April 17–19, with other events and activities taking placeduring the week, April 15–20.
At the heart of the gathering are meetings of the jointDevelopment Committee and the IMF's International Monetary andFinancial Committee, which discuss progress on the work of theWorld Bank Group and the IMF.
The Spring Meetings bring together central bankers,ministers of finance and development, parliamentarians, privatesector executives, representatives from civil societyorganizations, and academics to discuss issues of global concern,including the world economic outlook, poverty eradication, economicdevelopment, and aid effectiveness.
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