Krueger emphasizes globalization has improved living standards

• Pages: 312

Page 312

Briefing the press on September 24 in Washington, IMF First Deputy Managing Director Anne Krueger responded to questions about, among other topics, globalization and her view of the progress made in reforming the IMF since Managing Director Horst Köhler took office in May 2000.

She also addressed specific questions about Brazil, Europe, Japan, Turkey, and the global economy. Like Köhler (see related article, page 309), she said that what happens to individual countries is largely a function of their own economic policies. She hoped countries would strengthen domestic policies and reforms but indicated that if, in spite of a country's best efforts, there still appeared to be a need for IMF financing, the Fund stood ready to discuss policies and provide assistance.

Discussing globalization and the sentiment against it, Krueger noted that two hundred years ago, poverty and undernourishment were widespread, and life expectancy was low. Thanks to globalization, parts of the world have since broken...