Lin Wong - From Reuters
BEIJING The International Monetary Fund on Wednesday raised its forecast for China's 2017 economic growth to 6.7 percent, its third increase this year, citing "policy support, especially expansionary credit and public investment".
China needs to ensure that "where credit is granted, it is backing economic activity that will be useful, that will be supportive of growth and will permit debts to be serviced without difficultly," he said.
The IMF official said President Xi Jinping's speech at Davos in January was the start of China playing "a kind of leadership role at a time when there is a dialogue going on around the world about the path of globalization." AMSTERDAM The impact of the European Central Bank's 2.3 trillion asset purchase program on inflation has been disappointing, Dutch central bank chief Klaas Knot, a long-time critic of the bond buying scheme, said on Wednesday.
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