IMF Calls on Central Banks to Be Cautious in Cutting Interest Rates

The International Monetary Fund (IMF) has called on central banks Friday to be cautious in cutting interest rates. "Governments around the world must rebuild their financial capabilities," said Kristalina Georgieva, IMF Managing Director, in a statement, stressing that central banks must think carefully about the timing of cutting interest rates. She said that financial reserves have been depleted, noting that financial pressures are high. She stated that central banks must remain vigilant, rely on evidence and monitor data carefully to ensure that they do not cut interest rates either too early or too late. Last year, the IMF announced its approval of measures that would reduce its members' borrowing costs by about USD 1.2 billion annually. Source: Qatar News Agency