Arab Today, arab today imf\s lagarde bold action needed for global economy
Last Updated : GMT 09:15:59
Arab Today, arab today
Arab Today, arab today

IMF\'s Lagarde: Bold action needed for global economy

Arab Today, arab today

Arab Today, arab today IMF\'s Lagarde: Bold action needed for global economy

Washington - AFP

The global economy has picked up but bold action is needed to surmount serious dangers and deliver the benefits more evenly, International Monetary Fund managing Director Christine Lagarde said Thursday. Lagarde said the Ukraine crisis, slower growth in emerging economies, the threat of deflation in the eurozone, financial sector vulnerabilities in the two leading economies and market turbulence generally are serious hurdles to extending the global recovery. Spelling out the policy challenges for the world's economic policy-makers at the start of the annual IMF and World Bank spring meetings, Lagarde said determined efforts were needed to strengthen growth, after a "subdued" rebound from the economic crisis. "The global economy is turning the corner, but the recovery is still too weak and too slow....Bold actions are needed," she said. "For some, despite the fact that growth is strengthening, they're not feeling it. We still have 200 million people unemployed." The IMF laid out a detailed policy agenda for its meetings with finance ministers and central bank chiefs from around the world, which highlights the need for vigilance in countries at all points on the economic cycle. Advanced economies need to be sure not to mishandle the shift from easy-money regimes set during the financial crisis, and the Fund warns that tightening too fast could derail their recovery and hurt growth in other countries China needs to deftly handle its non-banking credit bubble, and the United States needs to address new risks in corporate debt, margin lending and leveraged finance, the IMF warns. Japan needs to push through on the "third arrow" of its turnaround -- structural reforms -- while emerging markets must themselves redo policies to adjust to a world of tighter capital. Lagarde reiterated the IMF's advice to the European Central Bank. urging it to quickly embark on operations to fend off deflation which could reverse Europe's recovery. While saying the fund respects the ECB's judgement, she urged it to act "sooner rather than later". Both the IMF and the World Bank stressed that the Ukraine crisis could also damage the world's economic prospects, as both bodies marshall billions of dollars to prop up Kiev's finances after the ouster or pro-Moscow president Viktor Yanukovich in February. In the wake of its annexation of Ukraine's Crimea region last month, Russia stepped up the tensions Thursday with President Vladimir Putin threatening to cut off its supply of natural gas to Ukraine. Finance ministers of the G7 industrial powers will hold discussions mainly on Ukraine Thursday on the sidelines of the IMF and World Bank meetings, according to diplomats. Their view is likely to be put to a meetings late Thursday and Friday in Washington of the G20 economic chiefs. World Bank President Jim Yong Kim warned that the crisis will have far-reaching effects on Russia, which could be forced into recession. "This is a very serious issue for Russia -- a very serious issue for its growth prospects," Kim told reporters. "So we simply urge all of the parties to continue with negotiations and find a peaceful means of moving forward." The IMF has forecast global growth at 3.6 percent this year, and 3.9 percent next year. But Lagarde noted that the G20 itself in February observed that with the right policies and the right cooperation between countries, growth could be higher by two percentage points over the next half-decade. "That is the kind of growth trajectory that would help create jobs," she said. In response, Nicolas Mombrial, of the anti-poverty group Oxfam, said the IMF needs a plan that would address another part of the picture, inequality. "There's no trade-off between growth and inequality. There will be no inclusive growth if economic inequality remains out of control."

arabstoday
arabstoday

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\s lagarde bold action needed for global economy Arab Today, arab today imf\s lagarde bold action needed for global economy

 



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\s lagarde bold action needed for global economy Arab Today, arab today imf\s lagarde bold action needed for global economy

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Sherine Reda frustrated of latest terrorist attacks

GMT 09:03 2017 Monday ,23 October

Sherine Reda frustrated of latest terrorist attacks
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:12 2017 Saturday ,21 October

Donia Abdel Aziz aspires to return to cinema

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 08:06 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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