IMF chief warns countries to remain vigilant
Source: Agencies |
March 19, 2012, Monday
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Print Edition
Print Edition
THE head of the International Monetary Fund yesterday warned against complacency about global finance despite improved conditions and said the world urgently needed more financial reform.
Speaking at the China Development Forum, Christine Lagarde said developed countries needed to strengthen their financial systems and cope with high debt. She said developing countries needed to improve their defenses against external shocks.
"The world economy has stepped back from the brink and we have causes to be a little bit more optimistic," she said. "But optimism should not give us a sense of comfort and certainly should not lull us into a false sense of security."
Global economic recovery will be "a marathon, not a sprint."
Speaking at the China Development Forum, Christine Lagarde said developed countries needed to strengthen their financial systems and cope with high debt. She said developing countries needed to improve their defenses against external shocks.
"The world economy has stepped back from the brink and we have causes to be a little bit more optimistic," she said. "But optimism should not give us a sense of comfort and certainly should not lull us into a false sense of security."
Global economic recovery will be "a marathon, not a sprint."
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