The current global economic crisis could lead to millions falling back into poverty, raising the risk of unrest and even war, Strauss-Kahn said while speaking at the International Labour Organization in Geneva on Monday.
Strauss-Khan also urged more states to reduce both tax rates and spending, adding that monetary policy has “reached its limit”.
The IMF chief added that an economic recovery is possible for next year, but that it will depend “on what policy is implemented”.
Furthermore, Strauss-Kahn said that while current stimulus measures are “not bad”, some countries have room for more. Current fiscal stimulus so far lies between 1.6% and 1.7% of global GDP, down from the 2% level required by the Fund.
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