IMF supports Biden’s stimulus plan for major US economy – International

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International Monetary Fund (IMF) managing director Kristalina Georgieva said on Friday (5) that she supports the $ 1.9 track stimulus plan promoted by US President Joe Biden to reduce the crisis caused by the epidemic in your country.

“The United States has a fiscal space to take additional relief and aid measures,” she told reporters, indicating that she considers it “appropriate” to use the device “due to this extraordinary degree of uncertainty and the fact that That there is still a lot of suffering for families and companies ”.

Georgiva expressed support for the main elements of the plan, including vaccines, clinical trials, as well as food aid and income tax credits for low-income workers.

In a virtual event with reporters, the unit director said, “The IMF greatly supports the use of more registered income tax credits and reimbursable credits for daycare centers.”

Biden on Friday promised Congress to “act quickly” to approve an incentive plan to help state and local governments, which have popular support but are facing opposition from Republican congressmen.

“It is clear that local governments and states need to be supported,” said Georgieva, who argued that a recovery in the United States would benefit the global economy and that Washington’s spending on education sectors “signaled” for the rest. serves as. Of world.

Georgieva agreed that I was looking into risks such as rising public debt, but praised Treasury Secretary Janet Yellen as a guarantee in this regard.

“We have the best possible Treasury Department to monitor potential financial stability risks,” he said.

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About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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