IMF: Ensuring fiscal sustainability is a top priority for developed countries

Xinhua Washington, March 1 (Xinhua Liu Hongliulina) The International Monetary Fund (IMF) 1st released a report, said that ensuring fiscal sustainability is a top priority for many developed countries. The report, submitted to a meeting of the 20 ministers of Finance and central bank governors in South Korea, said developed countries should tighten fiscal discipline and develop medium-term fiscal plans to reduce excessive debt as a percentage of gross domestic product.　　The report warns that without effective measures, some developed countries ' finances will be unsustainable and their economic growth prospects will be bleak.　　For the current world economic situation, the report argues that the global economic recovery is stronger than expected, but the situation is very different, the recovery of developed countries is relatively weak, and emerging economies, especially China, India and other Asian emerging economies have a strong recovery. The report also argues that inflation will be effectively controlled in most developed countries due to high unemployment, but some emerging economies are under pressure to rise in inflation. The report calls on these emerging economies to take a cautious approach.