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IMF Shinohara: Greece Ready To Do More; Global Economy In 'Soft Patch'
JAKARTA (Dow Jones)--Greece is willing to do more to tackle its debt crisis, while the global economy has hit a "soft patch" due to unexpected weakness in the U.S. and Japan, a top International Monetary Fund official said Monday.
"Greece is ready to take stronger measures on fiscal consolidation and privatization efforts," IMF Deputy Managing Director Naoyuki Shinohara told Dow Jones Newswires. He declined to say more as officials are still discussing the crisis.
On global growth, "it seems that we have hit a soft patch in the second quarter" because of weakness in the U.S. and Japan, Shinohara said on the sidelines of the World Economic Forum East Asia Summit in Jakarta.
"Growth will accelerate in the second half of this year," but "U.S. growth will be a bit slower" than the IMF previously estimated, he said.
JAKARTA (Dow Jones)--Greece is willing to do more to tackle its debt crisis, while the global economy has hit a "soft patch" due to unexpected weakness in the U.S. and Japan, a top International Monetary Fund official said Monday.
"Greece is ready to take stronger measures on fiscal consolidation and privatization efforts," IMF Deputy Managing Director Naoyuki Shinohara told Dow Jones Newswires. He declined to say more as officials are still discussing the crisis.
On global growth, "it seems that we have hit a soft patch in the second quarter" because of weakness in the U.S. and Japan, Shinohara said on the sidelines of the World Economic Forum East Asia Summit in Jakarta.
"Growth will accelerate in the second half of this year," but "U.S. growth will be a bit slower" than the IMF previously estimated, he said.