Emerging market economies have a window of two or three months to make reforms now that the Federal Reserve has refrained from scaling back its bond-buying program, World Bank President Jim Yong Kim said on Thursday.
“We think that now emerging market economies have maybe a two- or three-month window and the message we want to send to everybody is now is the time to make the reforms that you need to make,” Kim said at a news conference.
Kim said the mere announcement by the Fed that it might begin so-called tapering of its massive bond-buying economic stimulus program exposed weaknesses in some emerging economies and that they should now tackle fiscal policy reforms and other changes needed to improve the business investment environment.
REUTERS
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