BEIJING, April. 4 (Xinhuanet) -- The head of the International Monetary Fund says the world’s leading nations should take bold policy steps to bolster a still tepid global economic recovery. Christine Lagarde spoke just ahead of the IMF's economic forecast which is due out at 9 p.m. Beijing time.
IMF Managing Director Christine Lagarde says the global economy is turning the corner after its dark days from 2007 to 2009 and better times aren’t far off. Lagarde said in a speech previewing next week’s Washington meetings of global finance officials that she expects better from the world economy this year and next than 2013’s 3-percent growth. Lagarde also says she thinks the world’s emerging market countries will continue to be a major economic powerhouse.
"Emerging Asia will continue to be the brightest spot, posting the world’s highest growth rate with more than 6.5 percent this year on average and China will continue to be a key driver, albeit at a slightly slower pace," she said.
Lagarde warned, however, that overall growth remains too slow, and if wrong policy decisions are made, recovery could be framed at a slow pace in the long run.
"There is a fragile and modest recovery underway but it needs to change gears towards more rapid and more sustainable growth, which has been the coined sentence, you know, solid, sustainable and balanced growth," she said.
Lagarde also says the world’s developed nations have shown signs of recovery with the U.S. being the strongest. However, the IMF director suggests that prudent measures should be taken concerning the U.S. Fed’s ongoing tapering.
(Source: CNTV.cn)
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