HIGHLIGHTS-IMF, World Bank 2014 fall meetings in Washington on Friday

Sat Oct 11, 2014 12:51pm EDT
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WASHINGTON Oct 10 (Reuters) - The following are highlights from the International Monetary Fund and World Bank meetings on Friday in Washington, where finance ministers and central bankers from around the globe are gathered.

Many of the comments come from texts that were prepared for delivery to the IMF's steering committee, the International Monetary and Financial Committee, on Saturday.



"We don't think anybody needs sanctions, and they contradict our (global) goal of raising economic growth. And we believe those agreements reached in Minsk, the 12-point plan (on a ceasefire in Ukraine) is already starting to get implemented. So the question about the timing of the lifting of sanctions, we'd like to hope it won't be a matter of long-term perspective."

"Of course (sanctions affect the economic situation in the euro zone). We have significant trade relations with Europe, especially with Germany. Nevertheless, our colleagues are in favor of this, despite the cost to their economies.

"Everyone (during the G20 meetings) is talking about their desire to quickly resolve the situation in (eastern) Ukraine, and about their desire to quickly get rid of sanctions, because it's clear that they're hurting their own business development and economic stimulus. You saw that the latest outlook from the IMF showed that forecasts are on a downward trend. Sanctions are only adding to that."