IMF’s Lagarde: Global growth is tepid, recovery remains fragile

FXStreet (Córdoba) – International Monetary Fund Chief Christine Lagarde said on Wednesday that global growth is “tepid” and recovery remains fragile with downside risks on the horizon.

Regarding the Eurozone, Lagarde stated that Eurozone is beginning to turn the corner and outlook is upbeat.

She reiterated that Greece is in need of a large amount of debt restructuring and commented Athens has invited IMF to work on proposed debt program. Fiscal policies, structural reforms, financing and debt restructuring are four key legs for a Greek solution, said Lagarde.

Regarding China, Lagarde stated that China faces a “measured slowdown” but it is under control. She said that Chinese economy is strong enough to withstand stock drop. Developments in China will not affect SDR basket review.

As for Japan, Lagarde commented that the country is seeing positive signs of inflation and “Abenomics is beginning to deliver”.

Finally she stated that US is a strong performer in the global economy.

International Monetary Fund Chief Christine Lagarde said on Wednesday that global growth is “tepid” and recovery remains fragile with downside risks on the horizon.

(Market News Provided by FXstreet)