Friday, May 14, 2010

IMF and immediate action - Its getting serious!

IMF warns rich countries on debt

By Alan Beattie, International Economy Editor

Published: May 14 2010 15:56 Last updated: May 14 2010 15:56

The world’s rich economies are continuing to pile up public debt despite the recovery in the global economy, according to the International Monetary Fund.

In a regular report on public finances released on Friday, the fund also suggested steep increases in value-added taxes and excise duties as a way to plug the deficits.


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