The International Monetary Fund mentioned the measures used by developing economies to ease the impact of the financial crisis worldwide on production and employment levels.According to the organization's press release, "one of the factors that reduced the vulnerability of these countries was the large number of international reserves related to external financing on a short-term level."
The IMF also spoke about the Argentine government's strategy of spending expansion and stimulating the economy by supporting demand on an internal level, in order to sustain production levels and avoid a break within the real economy along with a strong rise in unemployment.
The organization, led by Dominique Strauss-Kahn, said that many developing countries were able to withstand the financial crisis and, in some cases, grow under the implementation of "important fiscal and monetary measures."
Although the crisis began in developed economies, such as those of the United States, not all developing economies were affected and, in addition, some even "continued to grow," said the IMF's document.
Fiannly [sic], the IMF said that "another important factor" that helped countries withstand the crisis was the link with commercial successes and mentioned the incentives used to spark demand that were applied by developing countries' respective administrations.
Source: http://www.buenosairesherald.com/BreakingNews/View/36978
