Arab Today, arab today imf chief world risks triple crisis
Last Updated : GMT 00:52:30
Arab Today, arab today
Arab Today, arab today

IMF chief: World risks triple crisis

Arab Today, arab today

Arab Today, arab today IMF chief: World risks triple crisis

Washington - UPI

The world risks disastrous income drops, ecological damage and social unrest unless countries become sustainable, the International Monetary Fund chief said. More than 100 world leaders promised at a historic U.N. Earth Summit a generation ago to \"strive for economic growth, environmental protection and social progress at the same time,\" Christine Lagarde said in a speech in Washington. The leaders, supported by about 2,400 non-governmental organization representatives, said they subscribed to \"the idea that different economic, environmental and social objectives can be seen as distinct aspects of a single vision, essential parts of a connected whole,\" she said. But far too little progress came from their Rio de Janeiro promises, she told an event sponsored by the Center for Global Development think tank. Now, 20 years later and a week before a follow-up U.N. Conference on Sustainable Development, the escalating European economic crisis and stalling economic growth worldwide -- coupled with the growing threat from climate change and social tensions -- could wreck leaders\' efforts to chart a sustainable world future, she said. The summit in Brazil June 20-21 -- also known as Rio+20 or the Rio Earth Summit 2012 -- is to follow immediately a Group of 20 summit in Mexico Monday and Tuesday, where U.S. President Barack Obama and other world leaders are widely expected to press top European officials for concrete and decisive steps to solve the euro crisis. \"Over the past four years, we have been mired in the worst economic crisis since the Great Depression -- and we are not out of it yet,\" Lagarde said. \"In fact, tensions are on the rise again, and financial-stability risks have once more moved front and center,\" she said. \"Great uncertainty hangs over global prospects. \"Too many regions today are still stuck in a trap of low growth and high unemployment,\" she said. \"Right now, 200 million people worldwide cannot find work, including 75 million young people trying to take their first step on the ladder of success. \"So we need a strategy that is good for stability and good for growth -- where stability is conducive to growth and growth facilitates stability,\" Lagarde said. Taxes on hydrocarbon fuels such as coal, oil and natural gas could raise billions of dollars a year that could support green projects, said Lagarde, a right-wing former French finance minister. Taxing polluters \"is basically a variation of the old mantra, \'You break it, you buy it,\'\" she said. If the United States were to adopt a $25 carbon tax on every ton of carbon dioxide created from burning hydrocarbon fuels, the government would reap more than $1 trillion over 10 years, she said. The tax would raise the price of a gallon of gasoline about 22 cents, she said. Despite broad awareness of the need for responsible management of resource use, \"many countries continue to subsidize polluting energy systems,\" rather than imposing higher costs on them, she said. \"These subsidies are costly for the budget and costly for the planet,\" she said. \"Countries should reduce them. But in doing so, they must protect vulnerable groups by tightly focusing subsidies on products used by poorer people, and by strengthening social safety nets,\" she said. Furthermore, economic policies must ensure growth is spread equally among the social classes, Lagarde said. \"Decent and steady employment is the sure foundation of human dignity, the best avenue to rewarding and fulfilling lives,\" she said. Neither Washington nor any other government had an immediate comment on her remarks.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf chief world risks triple crisis Arab Today, arab today imf chief world risks triple crisis

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday