IMF chief: Data transparency will increase resilience of economy

Christine Lagarde said greater data transparency -- promoted through the IMF data standard initiatives-leads to a 15 percent reduction in the spreads on emerging market sovereign bonds.

By IANS English

| Published: Thursday, February 9, 2017, 12:39 [IST]

Washington, Feb 9: International Monetary Fund chief Christine Lagarde said that greater data transparency could help increase the resiliency of the economy.

"Greater data transparency -- promoted through the IMF data standard initiatives-leads to a 15 percent reduction in the spreads on emerging market sovereign bonds," Lagarde on Wednesday revealed the result of a new IMF policy paper at an event held by the Atlantic Council.

Chief Operating Officer of Facebook Sheryl Sandberg, right, speaks next to Christine Lagarde, Managing Director of the International Monetary Fund, IMF, during a plenary session in the Congress Hall during the 47th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland. Image courtesy: PTI.

She called on members to improve data transparency, which could help increase economic resiliency, Xinhua news agency reported. She said that IMF tries to be "ruthless truth tellers" in its assessment of Greece's economic prospects.

In its recent economic assessment for Greece's economy, IMF said that its debt was still unsustainable after years of austerity. It called on Greece to continue push forward reforms of its pension, tax and banking systems, which drew opposition from Greek government.

IANS