The head of the International Monetary Fund supports Biden’s stimulus plan for the US economy
The Managing Director of the International Monetary Fund, Kristalina Georgieva, indicated on Friday that she supports the massive stimulus plan of $ 1.9 trillion that the President of the United States is promoting to alleviate the crisis caused by the epidemic in her country.
He told reporters that “the United States has the financial space to take additional relief and support measures,” noting that he considered it “appropriate” to use this tool “given the exceptional degree of uncertainty and the fact that there is still a lot of suffering for families and companies.”
Georgieva expressed support for key elements that make up the plan, including the vaccine fund, diagnostic tests, as well as food aid and income tax credits for low-income workers.
“The fund has been very supportive of using more recorded income tax credits and reimbursable credits for childcare,” the IMF leadership said in a hypothetical event with journalists.
Biden promised on Friday that he would act “quickly” until Congress approves a stimulus plan with the help of states and local governments, which have popular support but are facing opposition from Republicans.
“It is clear that there is a need to support local governments and countries,” Georgieva said, adding that the recovery in the United States would benefit the global economy and that the spending that Washington spends in areas such as education is a “signal” to the rest of the world.
Georgieva agreed that we should be alert to risks such as an increase in public debt, but praised Treasury Secretary Janet Yellen as a collateral in this regard.
“We have the best possible treasury secretary to monitor potential risks to financial stability,” he said.
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