WASHINGTON: The head of the International Monetary Fund’s steering committee says the global economy is bouncing back unevenly but still faces pitfalls, particularly the high debt burdens some governments are bearing and the slow return of consumer confidence.
Egyptian Finance Minister Youssef Boutros Ghali told The Associated Press on Thursday that Asian countries have recovered their high growth rates, North American economies are on their way and so is Europe, despite the dangers in some countries.
He said that the global economy will require a balancing act: countries with huge trade and budget deficits like the United States must boost exports, and countries with big trade surpluses like China must reduce their dependency on exports and boost domestic demand.
