| The economic efficiency of the elbow machine
Our corporate elbow machines should undergo structural and financial reforms to create a more stable and balanced pattern of economic growth, the World Monetary Fund said on Tuesday.
Speaking at the World Economic Outlook (WEO) press conference in Washington, Gian Maria Milesci-Ferretti, assistant director of the IMF's research department, said: "It is extremely important to undertake financial sector reforms, social protection reforms and monetary policy reforms that will ensure that the range of instruments available to the authorities is fully modern and appropriate, To ensure stable and solid growth of elbow machines in the future."
The World Economic Outlook, released on Tuesday, forecasts economic growth for the elbow machine at 6.8 percent this year and 6.3 percent in 2016, unchanged from its January forecast.
The Asia-Pacific region is expected to slow but will still "continue to outperform the rest of the world over the medium term," the report said.
The imf also kept its global growth forecasts in line with its January 2015 World Economic Outlook, which predicted that the world economy would grow by 3.5 percent in 2015. Olivier Blanchard, chief economist, economic adviser and director of research at the Monetary Fund, said growth was "modest and uneven" across the world.
Blanchard said there were four factors affecting the world economy in the medium term: the hangover from the financial and eurozone crises, the decline in potential output growth, the fall in oil prices and movements in exchange rates.
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