Tags: Lagarde | IMF | economic | growth

Lagarde Sees Subdued Global Growth as IMF Reviews Forecasts

Thursday, 19 Sep 2013 02:15 PM

The International Monetary Fund sees continued sluggish global growth as it reviews its forecasts, Managing Director Christine Lagarde said.

“The IMF will release its updated forecasts in a few weeks,” Lagarde said in a speech to the U.S. Chamber of Commerce, according to her prepared remarks. “For now, let me say that while we are seeing some signs of recovery, global growth remains subdued.”

The fund will release its new predictions Oct. 8, three months after cutting its global forecasts to 3.1 percent this year and 3.8 percent in 2014. Since then, developed economies such as the U.S. have become growth engines while some of their emerging-market counterparts decelerate, the fund staff said in a note to Group of 20 nations this month.

Lagarde also said the U.S. economy’s growth rate would be below 2 percent this year, and about one percentage point more next year. The country must fix its public finances, amid political uncertainty about the budget and the debt ceiling, she said.

On monetary policy, “our advice is that exit from unconventional monetary policies should be gradual, linked to progress in the recovery and employment, and that it should be clearly communicated and in a dialogue,” Lagarde said a day after the Federal Reserve unexpectedly refrained from cutting monetary stimulus.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
StreetTalk
The International Monetary Fund sees continued sluggish global growth as it reviews its forecasts, Managing Director Christine Lagarde said.
Lagarde,IMF,economic,growth
213
2013-15-19
Thursday, 19 Sep 2013 02:15 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved