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Interview

Inflation policy should be 'targeted and temporary': IMF director

Vitor Gaspar warns policy tightening will add to emerging nations' debt woes

Vitor Gaspar, the IMF's director of fiscal affairs, hammers the point that inflation-fighting budgets must be targeted and temporary.

WASHINGTON -- The widespread gasoline and food price controls being adopted by developed nations should be temporary and targeted at vulnerable households, Vitor Gaspar, director of fiscal affairs at the International Monetary Fund, told Nikkei in an interview. As the world starts to transition from an accommodative monetary policy cycle to tightening, Gaspar also warned that emerging economies' debt distress will swell.

Edited excerpts from the interview follow.

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