Kuwait: IMF Chief Urges Economic Reform Amid Good Near-Term OutlookSource: www.export-egypt.com 1/23/2018, Location: Middle East |
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International Monetary Fund chief Christine Lagarde warned world leaders to make use of a "good" near-term outlook to carry out tangible economic reform, warning that rising public debt means this would be difficult in the future.
"While the near-term outlook is good, the mid-term outlook is more worrying, and a recession may be nearer than we think," she said. Speaking at the World Economic Forum in Davos, she also expressed worry that several developing economies were not sharing the benefits of their growth. The economies of 20 percent of emerging and developing countries have witnessed a drop in the nationals' incomes in 2017 despite rising global economic growth since mid-2016. "The level of public debt means that the ammunition to fight another recession is not as strong as before, so world leaders must make sure to adopt the best policies now, and make hay while the sun shines," she added. |
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