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Tue 12 Dec 2008Bailouts of troubled industries unlikely to stimulate global demand, says IMF
WHOLESALE TAX cuts or bail-outs of troubled industries like the automotive sector are likely to waste government money while doing little to stimulate the global economy, the International Monetary Fund (IMF) warned yesterday.
As governments worldwide cut taxes and boost spending to combat the global recession, a study by the IMF said such programmes must be large but carefully designed.
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