Lagarde says IMF more optimistic about global recovery

Updated 2017-10-06 10:01:52 Xinhua

The International Monetary Fund (IMF) is more optimistic about global recovery than in July, while urged countries to take the upswing to carry out reforms to support inclusive and sustainable growth.

"The long-awaited global recovery is taking root ... Next week we will release an updated forecast ahead of our Annual Meetings - and it will likely be even more optimistic," said IMF Managing Director Christine Lagarde in a speech on Thursday ahead of the IMF/World Bank annual meetings.

In July, the IMF expected the global economy to grow 3.5 percent this year and 3.6 percent in 2018.

Lagarde said on Thursday that nearly 75 percent of the world is experiencing an upswing -- the broadest-based acceleration since the start of the decade.

Besides the acceleration in global growth, financial stability is improving as banking system is more stable and market confidence increases, said Lagarde.

"We are seeing some sun break through - but it is not a clear sky," said Lagarde, citing high levels of debt, excessive risk-taking in financial markets, and heightened geopolitical tensions as threats to the global recovery.

Lagarde called on countries to take advantage of the upswing to undertake reforms, such as investing in education, research and development, as well as infrastructure in order to boost productivity and foster inclusive growth.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58November 19 2017 18:13:31

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16November 19 2017 18:13:31

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18November 19 2017 18:13:31

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords