http://www.pensions-r-us.org We are Blogging Finance, Pensions, Personal Pensions, Economy, Investments and Money... Wed, 29 Jul 2009 17:54:14 +0000 http://wordpress.org/?v=2.8.3 en hourly 1 http://www.pensions-r-us.org/economy/imf-warns-that-progress-in-fuel-and-food-prices-threaten-global-growth-2.htm http://www.pensions-r-us.org/economy/imf-warns-that-progress-in-fuel-and-food-prices-threaten-global-growth-2.htm#comments Sat, 19 Apr 2008 19:47:34 +0000 pensions http://www.pensions-r-us.org/?p=67 The first deputy managing director of the International Monetary Fund (IMF), John Lipsky, said today that prices of food and fuel have shown significant progress so that would threaten global growth.
The agency’s economist, said during his speech at an energy forum in Rome that “the prices of raw materials in general, especially food and energy, have now reached levels where it runs the risk of becoming a destabilizing force for the global economy. ”
“This is a global problem that requires a coherent global response,” he said.
Meanwhile, Lipsky pointed out that despite the fact that advanced economies like the United States has slowed demand for oil has not declined in emerging markets such as China, India and the Middle East, representing two thirds of the increase in energy use in the last decade.
Situation which is not seen on the horizon near a drop in fuel prices.
“Fundamentally, oil prices are likely to remain at high levels because market conditions may remain tight,” he said, adding that the idle capacity among OPEC producers was less than half their 1996 levels 2007.
It may be recalled that on Monday the price of oil exceeded U.S. $ 117 a barrel on the London market.

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