The director of the International Monetary Fund (IMF), Christine Lagarde, is not content with global economic developments. There are different speeds at which individual regions are moving towards recovery.
Developing and emerging nations have seen their economies expanding, while the United States has posted only moderate growth. Europe and Japan are lagging behind.
"Such an uneven, three-speed recovery is not healthy," Lagarde said. "We need a global economy that's growing at full speed." Lagarde added growth had to be solid, sustainable and environmentally friendly.
Her vision may sound nice, but present-day realities are different. That's why Lagarde made many different recommendations. Addressing the rapidly growing developing and emerging countries, she warned against excessive financial operations and urged a strengthening of regulatory bodies.
She advised poorer nations to invest more in infrastructure, health and education with the help of the international community. Lagarde called on the United States to get its finances organized in a more orderly and well-communicated fashion.
World Bank President Jim Yong Kim also faced challenging situation as he
prepared for the spring conference with the IMF in Washington. His
institution aims to end extreme poverty in the world by 2030 and finance
development projects for this purpose. At the same time, growth the
programs generate should be environmentally friendly.
Read more: IMF and World Bank walk an economic tightrope | Globalization | DW.DE | 19.04.2013
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