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IMF’s Lagarde warns G20 to avoid ‘low-growth trap’

The head of the International Monetary Fund Thursday called on global leaders to take “forceful” action to revive the world economy, sounding a stark warning ahead of this weekend’s G20 summit.

Christine Lagarde, the IMF managing director, said that as of 2016, global economic growth had stagnated for five years below the 3.7 percent average that prevailed between 1990 and 2007 .

In a report on global economic conditions for G20 members, IMF economists said U.S. growth would likely be weaker than previously expected in 2016 .

In its G20 report, the IMF said G20 leaders in 2014 had pledged to raise their collective GDP by 2 percent by 2018 .






Article source: http://www.dailystar.com.lb//Business/International/2016/Sep-01/370019-imfs-lagarde-warns-g20-to-avoid-low-growth-trap.ashx