Finance Minister Bill English attended meetings at the International Monetary Fund (IMF) and World Bank next week, and returned reaffirming the Government’s commitment to reducing public debt under 20% of GDP. He thinks that is the most prudent strategy in these uncertain economic times.

Meanwhile the rest of the world is struggling with stagnant growth despite years of record low interest rates. In some countries interest rates are now even negative. Overseas Governments are starting to ask what action they can take in a zero interest rate world, and the IMF is advising them to spend more.

In this Face to Face Geoff talks with Bernard Hickey about these issues and what options New Zealand has to stimulate the economy as interest rates edge towards zero.

About the Author

Gareth Morgan

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Gareth Morgan is a New Zealand economist and commentator on public policy who in previous lives has been in business as an economic consultant, funds manager, and professional company director. He is also a motorcycle adventurer and philanthropist. Gareth and his wife Joanne have a charitable foundation, the Morgan Foundation, which has three main stands of philanthropic endeavour – public interest research, conservation and social investment.