IMF's Rato on global imbalances and global poverty

In a speech given on 23 February Rodrigo de Rato of the International Monetary Fund said global imbalances stemming from the mounting US current account deficit are a threat to the stability of the international financial system and require action to avoid disruptions to global growth.

"The time has come for deliberate action by the major players of the world economy," Rato said in the speech at Columbia University in New York.

The Bush administration's latest budget "shows some signs of fiscal

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