IMF urges governments to turn on the spending taps

Governments could create up to 33m new jobs by opening the spending taps to underpin the post-Covid-19 recovery, the International Monetary Fund has said. The body’s latest Fiscal Monitor stressed the “time is now” for public investment in the wake of the crisis to help reverse a decade of under-spending around the world. If targeted at high-quality projects, the IMF estimates that a 1pc rise in public investment could bolster output by as much as 2.7pc and private investment b