The global economic recovery remains fragile and stimulatory policies should stay in place until it is firmly established, says International Monetary Fund (IMF) managing director Dominique Strauss-Kahn.

Mr Strauss-Kahn made the comments in delivering the annual lecture of the Monetary Authority of Singapore on Friday.

“While I am hopeful that the global economy has turned the corner, the recovery remains fragile.

“Policymakers should therefore keep supportive measures in place until a recovery is firmly established and conditions for unemployment to recede are in place,” he said.

Crisis support policies may need to be wound back in some emerging markets, including some in Asia, where the recovery is “further along”.
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Westfield Group, the world’s largest shopping centre owner, says its business remains resilient despite the global recession, with its Australian operations leading the way.

Chairman Frank Lowy told securityholders at the company’s annual general meeting Westfield was facing its most challenging times but delivered an optimistic outlook, describing shopping centres as “irreplaceable components of urban and suburban infrastructure”.

“They outperform in good times, and are resilient during economic downturns,” he said.

Mr Lowy reaffirmed Westfield’s guidance for calendar 2009 operational earnings and distribution of between 94 to 97 cents per security, issued just last week.
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A majority of respondents believe the economic downturn will increase the risk of identity theft and financial fraud, a study finds.

About 63 per cent of respondents in a Unisys Security Index survey said identity theft and related crime would increase because of the declining economy.

“The latest Unisys Security Index shows an increase in concerns about the security of online activities such as shopping and banking as well as growing concern about financial fraud,” Unisys Asia Pacific vice-president Andrew Barkla said.
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photo credit: la_cola_de_mi_perroThe global economy will only recover once the credit supply and the world banking system are restored from their sick beds, a leading official from the central bank says.

Reserve Bank of Australia’s (RBA) head of financial stability department, Luci Ellis, said it was crucial that steps were taken to revive the health of the financial system.

“Restoring the global banking system to health is a precondition for a recovery in credit supply and economic activity,” Dr Ellis said at a conference on the global financial crisis in Melbourne on Wednesday.
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Today’s guest post comes from David Khalil, NSW State Manager from Refund Home Loans.

The year ahead is now seeing an upturn in Lending and home loan Enquiries, which is creating the perfect financial Storm.

The climate is set with the lowest interest rates in 4 decades, house prices are still low, more Government grants to assist with home entry and a higher rental return for investors. Petrol prices have dropped, also the price of bananas. We are seeing an increase in cash-flow for clients the average family is $700 a month better off and this is great time for them to pay off debts or purchase investments.
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