International Monetary Fund Managing Director Christine Lagarde on Tuesday turned up the volume on her calls for stronger action by the world’s economies to boost growth, warning that downside risks were increasing without decisive action.
In a speech at Frankfurt’s Goethe University, Lagarde prescribed specific moves, including for the United States to raise its minimum wage, for Europe to improve job training and for emerging economies to cut fuel subsidies and boost social spending.
She said recovery from the 2007-2009 global financial crisis “remains too slow, too fragile and risks to its durability are increasing.”
“Let me be clear: we are on alert, not alarm. There has been a loss of growth momentum,” Lagarde said in her prepared remarks. Read more