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The IMF's First Managing Director John Lipsky, says the world economy is recovering moderately despite some challenges.
Lipsky says there's a need for medium-term fiscal consolidation and well-designed exit strategies from stimulus. But things seem to be moving more or less in line with forecast. He also told delegates at the G20 meeting of deputy finance ministers and central bank chiefs in South Korea, that some good progress had been made in discussing changes to the IMF's executive board.
Emerging economies have been calling for a bigger say in international institutions, in line with their increasing contribution to the global economy.