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IMF COMMENT ABOUT LEAKED REPORT ON GERMAN MONETARY POLICY

 IMF COMMENT ABOUT LEAKED REPORT ON GERMAN MONETARY POLICY
 WASHINGTON, Nov. 6 /PRNewswire/ -- Gerard Belanger, acting director of the IMF's European I Department, said the IMF regrets the leak of a confidential Fund document. "We would stress that key quotes highlighted in the press report were taken out of context. In particular, the recommendation to accelerate the decline of interest rates was clearly conditioned on prospects for fiscal consolidation, and price and wage developments." The relevant sentence reads as follows:
 "Favorable developments over the coming months on the next wage round and on prospects for fiscal consolidation would allow the Bundesbank at an early stage to quicken the decline in interest rates, without endangering its credibility," he said.
 -0- 11/6/92
 /CONTACT: International Monetary Fund, external relations department, 202-623-7100/ CO: International Monetary Fund ST: District of Columbia IN: FIN SU:


KD -- DC020 -- 8259 11/06/92 15:08 EST
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Publication:PR Newswire
Date:Nov 6, 1992
Words:150
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