Úkol pro MMF až za krizi

WASHINGTON, DC – Až se světoví lídři sejdou na summitu G20 v Pittsburghu, budou bilancovat dopady doposud uskutečněných stimulačních opatření a prodiskutují jak koordinovat spořádaný odklon od nich. Budou muset posílit mezinárodní směrnice o kapitálových požadavcích na velké nadnárodní banky a vypořádat se s perverzními finančními pobídkami, které vedou k nezodpovědnému riskování ve finančním sektoru. Avšak nejtrvalejší stopou, již za sebou mohou zanechat, je rozšíření mandátu Mezinárodního měnového fondu pro dobu po skončení krize.

Význam MMF během krize výrazně vzrostl. Fond úspěšně přispěl ke koordinovanému fiskálnímu a měnovému stimulu, který pomohl odvrátit cyklické zhroucení. Jeho zdroje se ztrojnásobily, což mu umožnilo pustit se do záchrany zemí tak rozličných, jako je Island, Pákistán a Ukrajina, které byly odříznuté od mezinárodních kapitálových trhů. Zemím s nízkými příjmy MMF pomáhá rozsáhlými úvěry s bezprecedentní nulovou úrokovou sazbou.

Skupina G20 zajištěním politického a finančního krytí těchto změn prokázala schopnost vést a MMF neprodleně zareagoval. Existuje však reálné riziko, že s postupným zotavováním světového hospodářství se politický elán rozplyne.

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