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2012-01-20 07:59:43
The heads of the IMF and World Bank have joined other influential figures in
calling on countries to implement free trade, reform their economies and
protect economic growth.
They warned that austerity programmes should "promote rather than reduce
prospects for growth".
The warning came in a "call to action" in the run-up to the World Economic
Forum in the Swiss resort of Davos.
Leaders warned the world faced slowing growth and rising unemployment.
They also called for world leaders to take action to tackle inequality.
The signatories included:
Mark Carney, chairman of the Financial Stability Board,
World Health Organization boss Margaret Chan,
OECD secretary general Angel Gurria,
World Trade Organization director general Pascal Lamy,
International Monetary Fund head Christine Lagarde,
World Bank president Robert Zoellick,
and the leaders of the International Labour Organization, World Food Programme
and three regional development banks.
Inequality warning
However, the signatories, who sit on the World Economic Forum's Global Issues
Group, said their statement did not necessarily reflect the views of their
organisations.
In the short term, the statement said, leaders should remove trade barriers,
provide capital to the banking system, make government finances more
sustainable and focus on youth and long-term unemployment.
However, they warned that "fiscal consolidation" programmes should be applied
in a "socially responsible" manner, in order to promote growth and employment.
In the longer term, the statement called for action on labour market reforms to
boost employment, inequality and green growth.
"Rising inequality calls for heightened consideration of more inclusive models
of growth. We must deliver tangible improvements in material living standards
and greater social cohesion," it said.