This is an exceptional, must-read from the IMF. Check it out!
via Group of Twenty IMF Note — G-20 Finance Ministers and Central Bank Governors Meeting — IMF Note on Global Prospects and Policy Challenges; February 9–10, 2015 in Istanbul, Turkey.
Let me give you a flavor, here’s a reference to Europe that I particularly endorse:
Fiscal policy should be growth friendly, including by moderating the pace of consolidation and enhancing infrastructure investment in countries with identified needs, large output gaps, and relatively efficient investment processes.
Irrespective of the outcome in Greece‘s refinancing negotiations, the rest of the Eurozone still needs a ‘big bazooka’ approach to fiscal policy – the ECB‘s QE policy will not be enough to kick-start European growth.