Презентация выступления на международной конференции в Европейском учебном институте при МГИМО (У) 22 октября 2009 года.
Main Points
- Global Crisis: no region in the world is immune
- Financial transmission channels powerful and near-immediate
- Externally exposed countries (like RU) more vulnerable to first-order impact
- Feed-back loops with the real economy
- Impact and lag dependant on initial positions and adequacy of policy responses
- Recent stabilisation, but risks remain
- Cross-country variation in policy responses and instruments, depending on prior buffers and on the adequacy of policy actions
- Fiscal policy: near-term versus long-term
- Priority to stabilisation, but long-term fiscal implications
- Crisis response should not jeopardise implementing long-term reform agenda
- Securing external financing
- Global crisis – global policy responses; devising global responses within the G20