IMF and World Bank say need to Fix Banking Sector for stimulus to work
Jan 27th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Economic stimulus, including that planned by the Obama Administration, cannot alone pull the world out of the current tailspin and more needs to be done to fix the underlying causes of the crisis, particularly in the banking sector,IMF Managing Director Dominique Strauss-Kahn said on Monday. Robert Zoellick, President of the World Bank, also said on Monday that pumping government money into the economy was not enough by itself.