IMF chief hails Germany’s climate, fiscal plans

Bloomberg

The German government should be applauded for its plans for fiscal stimulus and climate, according to International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
“I want to say we have to give credit to the German authorities,” Georgieva, who took on the role last month, said in a Bloomberg TV interview, pointing to fiscal support contained in next year’s budget. “They also came up with a very ambitious climate plan — bravo — may others follow. That also would inject a stimulus.”
The comments are a rare spot of praise for Germany, which has been urged to step up fiscal spending to help both its economy and that of the broader euro area. The government has resisted the extreme plans suggested, saying there’s no crisis it needs to respond to.
Georgieva said the global economy will see a modest upswing in 2020, but cautioned that it’s still operating under a heavy cloud of uncertainty. The world needs to move from a trade truce to trade peace, she added.
“We can reach an upswing but it would require policy efforts,” she said. “It’s not going to come just falling from the sky.”