Infrastructure investment will have far more impact than tax cuts for governments trying to boost economic growth in the face of the global recession, according to the International Monetary Fund.The IMF, which has urged faster and bigger restructuring plans for the financial system, also broke a taboo by calling for limited and temporary nationalisation of troubled financial institutions when shareholder equity had been wiped out by collapsed asset prices.
The IMF, which has urged faster and bigger restructuring plans for the financial system, also broke a taboo by calling for limited and temporary nationalisation of troubled financial institutions when shareholder equity had been wiped out by collapsed asset prices.
Infrastructure investment will have far more impact than tax cuts for governments trying to boost economic growth in the face of the global recession, according to the International Monetary Fund.
The IMF meanwhile will deliver €1.7 billion, with another €1.8 billion coming from Nordic countries Denmark, Finland, Sweden and non-EU nation Norway... The monies...will buttress the Latvian economy up to the first quarter of 2011... As part of the loan agreement, public sector wages are to be slashed by 15 percent in 2009 alongside deep cuts to government expenditures of 1 billion Latvian lats (€1.41 billion) alongside cuts to income tax and increases in VAT rates...
The monies...will buttress the Latvian economy up to the first quarter of 2011...
As part of the loan agreement, public sector wages are to be slashed by 15 percent in 2009 alongside deep cuts to government expenditures of 1 billion Latvian lats (€1.41 billion) alongside cuts to income tax and increases in VAT rates...
