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Concern at IMF meeting over imbalanced world economy

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By Euronews
Concern at IMF meeting over imbalanced world economy

<p>Concern about an increasingly imbalanced world economy is being raised at the <span class="caps">IMF</span> Spring Meetings in Washington.</p> <p>Income inequality in industrialised countries is now at its highest level in 50 years, according to the <span class="caps">OECD</span>.</p> <p>The average pay of the top ten percent of earners is now almost ten times that of the poorest 10 percent across the <span class="caps">OECD</span>.</p> <p>Angel Gurria, the <span class="caps">OECD</span>’s Secretary General, told euronews:<br /> “Yes, there is a sense of urgency, yes there is a sense of the need to address the issues. And more and more there is a shared conviction that these are economically inconvenient and politically unsustainable issues, and therefore they have to be addressed.”</p> <p>Experts say the financial crisis has only added urgency to the need to address the issue by promoting better education and training possibilities.</p> <p>Axel Kicillof, the Argentinian Finance Minister, told euronews:<br /> “When you combat inequality and you put money in the sectors that are with less income, you have as results not only more welfare for them, but also macro-economically speaking more demand.”</p> <p>Euronews’ Stefan Grobe reported:<br /> “As John F. Kennedy used to say: A rising economic tide lifts all boats. But in today’s reality, only yachts go up whereas too many rafts remain stuck in the mud.”</p> <blockquote class="twitter-tweet" lang="en"><p><a href="https://twitter.com/OECD"><code>OECD</a> sec gen Gurria chats with <a href="https://twitter.com/euronews"></code>euronews</a> <a href="https://twitter.com/StefanGrobe1"><code>StefanGrobe1</a> on <a href="https://twitter.com/hashtag/inequality?src=hash">#inequality</a> - you can watch it today in 14 languages! <a href="http://t.co/BJvlRqZifJ">pic.twitter.com/BJvlRqZifJ</a></p>&mdash; Miguel R Gorman (</code>DCMig) <a href="https://twitter.com/DCMig/status/589402804869013504">April 18, 2015</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>