The managing Director of the International monetary Fund (IMF), Christine Lagarde said that the global economy is growing at a slow pace due to the fact that not all countries recovered from the crisis of 2008-2009. She stated this in an interview with Le Figaro.
“We are forecasting global growth at 3.2% this year. Of course, it’s not the best performance, but we are talking about real growth. Our analysis of the slowdown and volatility refers to the negative consequences of the financial crisis of 2008-2009, which still failed in a number of countries” — quoted by RNS the head of the IMF.
Earlier in April she noted that the Fund was skeptical about the pace of global economic growth and the need for more decisive action to implement structural reforms. “The recovery is too slow, too fragile, and risks are growing,” stated Lagarde. According to her, for the last 6 months the growth prospects of the global economy has deteriorated, which was caused, including weakening growth of Chinese economy and falling commodity prices.
In January the IMF lowered its forecast for global GDP growth in 2016 and 2017 to 3.4% and 3.6% respectively. Compared with the previous forecast it was revised downwards by 0.2 percentage points in 2016 and 2017.
