Trapped in a recession

Print edition : November 14, 2014

Olivier Blanchard, the IMF’s Economic Counsellor, in his foreword to the latest World Economic Outlook, goes against the IMF’s preferred prescription of deregulation and says there is scope to use debt-financed public expenditure for economic growth. Photo: STEPHEN JAFFE/AFP

World Bank President Jim Yong Kim and IMF Managing Director Christine Lagarde at the Bank-Fund annual meetings in Washington on October 11. There is confusion among leaders of these institutions about the need to use fiscal measures to boost economic recovery. Photo: MIKE THEILER/REUTERS

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