AFP, Washington :
International Monetary Fund Chief Christine Lagarde warned Thursday that rich and poor countries alike need more aggressive reform and investment to wrest the global economy from sluggish growth.
Saying that the world is mired in a “new mediocre,” the head of the crisis lender said many economies remain held back by the effects of the 2008 financial crisis.
Many advanced economies in particular are stuck with a combination of low growth, low inflation, high debt and high unemployment.
Other less advanced economies continue to struggle with volatile capital flows and currency shifts that make it harder for them to keep a steady course.
“The global recovery continues, but it is moderate and uneven. In too many parts of the world it is not strong enough. In too many parts of the world, people do not feel it enough,” Lagarde said, according to the text of a speech to the Atlantic Council.
International Monetary Fund Chief Christine Lagarde warned Thursday that rich and poor countries alike need more aggressive reform and investment to wrest the global economy from sluggish growth.
Saying that the world is mired in a “new mediocre,” the head of the crisis lender said many economies remain held back by the effects of the 2008 financial crisis.
Many advanced economies in particular are stuck with a combination of low growth, low inflation, high debt and high unemployment.
Other less advanced economies continue to struggle with volatile capital flows and currency shifts that make it harder for them to keep a steady course.
“The global recovery continues, but it is moderate and uneven. In too many parts of the world it is not strong enough. In too many parts of the world, people do not feel it enough,” Lagarde said, according to the text of a speech to the Atlantic Council.
