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Johannesburg - The sense among global leaders is one of "cautious optimism" where the world economic recovery is concerned, Absa Group [JSE:ASA] Chief Executive Maria Ramos said on Friday.
Ramos, who attended the recent World Economic Forum (WEF) in Davos, Switzerland, said that the "desperation" seen during the global economic recession had "lifted somewhat."
The real challenge now for the US, Europe and emerging markets was how the economic recovery that is taking place was going to be converted into jobs, Ramos said.
Ramos expressed confidence in the eurozone despite the economic and sovereign debt woes the region has been facing.
"The eurozone will survive," Ramos noted, but added that challenges remain for the region.
She said challenges for the US remain sufficient jobs growth and "a large fiscal issue," while challenges for countries such as China included domestic inflation.
Leaders from the Group of 20 countries attended the Davos WEF summit. Ramos said that the challenge for this group was not only about the reform of the international monetary system but also what happens to the international monetary system around exchange rates and resolving global imbalances.
Ramos, who attended the recent World Economic Forum (WEF) in Davos, Switzerland, said that the "desperation" seen during the global economic recession had "lifted somewhat."
The real challenge now for the US, Europe and emerging markets was how the economic recovery that is taking place was going to be converted into jobs, Ramos said.
Ramos expressed confidence in the eurozone despite the economic and sovereign debt woes the region has been facing.
"The eurozone will survive," Ramos noted, but added that challenges remain for the region.
She said challenges for the US remain sufficient jobs growth and "a large fiscal issue," while challenges for countries such as China included domestic inflation.
Leaders from the Group of 20 countries attended the Davos WEF summit. Ramos said that the challenge for this group was not only about the reform of the international monetary system but also what happens to the international monetary system around exchange rates and resolving global imbalances.
