{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='IMF forecasts global rebound but warns about rising gov debt' data-url='/boclips/videos/5c54bbb5d8eafeecae127164' data-video-url='/boclips/videos/5c54bbb5d8eafeecae127164' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nIMF forecasts global rebound but warns about rising gov debt\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide shot IMF (International Monetary Fund) news conference, zoom into Olivier Blanchard, Chief Economist, as he speaks as follows:2. SOUNDBITE: (English) Olivier Blanchard, Chief Economist, International Monetary Fund\"The global...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide shot IMF (International Monetary Fund) news conference, zoom into Olivier Blanchard, Chief Economist, as he speaks as follows:\u003cbr/\u003e2. SOUNDBITE: (English) Olivier Blanchard, Chief Economist, International Monetary Fund\u003cbr/\u003e\"The global recovery has evolved better than we expected.  We now forecast global growth to reach 4.2 percent in 2010, which is an upward revision of 0.3 percent from our January forecast, and to reach 4.3 percent in 2011.  And alongside growth, global trade has also shown a strong rebound, and so have capital flows, as discussed in the newly released global financial stability report: ''Financial Market Conditions and Stability''.\"\u003cbr/\u003e3. Cutaway journalists\u003cbr/\u003e4. SOUNDBITE: (English) Olivier Blanchard, Chief Economist, International Monetary Fund\u003cbr/\u003e\"We find ourselves at an important new stage of the crisis; the global depression has been averted, the world economy is recovering, and recovering better than we had previously thought likely.  This is certainly welcome news, but new and no less formidable challenges have presented themselves.  Achieving strong, sustained and balanced growth will not be easy; it will require more work, namely fiscal consolidation in advanced countries, exchange rate adjustments, the re-balancing of demand across the world - these are the tasks facing policymakers over the next few years.\"\u003cbr/\u003e5. Cutaway cameraman\u003cbr/\u003e6. SOUNDBITE: (English) Olivier Blanchard, Chief Economist, International Monetary Fund\u003cbr/\u003e\"Advanced countries as a whole may need to depreciate their currencies so as to increase their net exports.  This in turn implies that emerging and developing countries, again as a whole, do the reverse, namely let their currencies appreciate and reduce their net exports.\"\u003cbr/\u003e7. Cutaway journalists\u003cbr/\u003e8. SOUNDBITE: (English) Olivier Blanchard, Chief Economist, International Monetary Fund\u003cbr/\u003e\"In China for example, a shift away from exports towards domestic consumption - a shift that requires both structural measures to decrease saving and an appreciation of the currency - appears highly desirable on its own.\"\u003cbr/\u003e9. Cutaway photographer\u003cbr/\u003e10. SOUNDBITE: (English) Jorg Decressin, Head of European Department, International Monetary Fund\u003cbr/\u003e(in answer to question about the financial fallout from the recent ash cloud from the volcano in Iceland which grounded flights in Europe)\u003cbr/\u003e\"... cloud from the volcano, that if this is something that is short-lived it will be fairly limited.  Now if it lasts longer it''s a different story.  According to some estimates, air transport now accounts for around 20 percent of all cross border.... 15 to 20 percent for all cross border trade in Europe.  And that''s a fair chunk.  Now, you can substitute away from air transport to other modes of transport.  You can even substitute the goods that you are getting via air transport.  For example, you will be buying fresh flowers locally rather than exotic flowers that are flown in.  So even then, you know, that will be acting as a force that limits the fallout from the volcano.  So overall, we believe that for as long as this is of limited duration, the fallout will be limited; if it lasts longer, it becomes a more complex question to which we don''t yet have a firm answer.\" \u003cbr/\u003e11. Cutaway journalists\u003cbr/\u003eThe International Monetary Fund (IMF) said on Wednesday that the global economy, after enduring a crippling recession, should see better than expected growth this year, led by strength in China and other developing nations.\u003cbr/\u003eIn an updated economic outlook, the IMF forecast that the world economy would expand by 4.2 percent this year, faster than its previous projection and a sharp improvement from 2009 when global output fell by 0.6 percent, the worst performance since World War II.\u003cbr/\u003eHowever, the IMF warned the recovery remained vulnerable with the biggest threat likely to come from a surge in government debt burdens.\u003cbr/\u003eThe findings of the latest World Economic Outlook were presented at a news conference in Washington, DC, by the IMF''s chief economist Olivier Blanchard.\u003cbr/\u003eThe IMF said a combination of monetary policy, supported by \"unconventional liquidity provision\" and stimulus provided by fiscal policies had helped the global economy.\u003cbr/\u003eBut Blanchard said that while a global depression had been avoided, \"new and no less formidable challenges have presented themselves.\"\u003cbr/\u003e\"Achieving strong, sustained and balanced growth will not be easy; it will require more work, namely fiscal consolidation in advanced countries, exchange rate adjustments, the re-balancing of demand across the world - these are the tasks facing policymakers over the next few years,\" said Blanchard.\u003cbr/\u003eThe economist also said advanced economies may need to \"depreciate their currencies so as to increase their net exports,\" while emerging and developing countries should \"let their currencies appreciate and reduce their net exports.\"\u003cbr/\u003eOn China, Blanchard said a yuan appreciation \"would be highly desirable.\"\u003cbr/\u003eJorg Decressin, Head of the IMF''s European Department, was asked about the financial fallout from the recent ash cloud from the volcano in Iceland which grounded flights in Europe.\u003cbr/\u003e\"We believe that for as long as this is of limited duration, the fallout will be limited,\" Decressin said.\u003cbr/\u003eAirlines lost at least 1.7 (b) billion US dollars in revenue during the period when flights were grounded, an industry group said on Wednesday as the debate heated up over whether European governments were justified in shutting down their airspace for so long. \u003cbr/\u003ePlanes were once more flying into all Europe''s top airports - London''s Heathrow, Paris'' Charles de Gaulle and Frankfurt - but experts predicted it could take days to clear a backlog of stranded passengers after about 102-thousand flights were cancelled around the world.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid 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