IMF confirms global crisis and slow recovery.
Managing Director of the International Monetary Fund, Christine Lagarde, stated that the global economic recovery remains "very slow, very fragile and very uneven": "This is still below what one might expect after a crisis like this"; "Looking ahead, something better may still come in the wake of low oil prices and interest rates. Still, there are significant risks to this fragile global recovery."
NEW DELHI (Reuters) - The global economic recovery remains "very slow, very fragile and very uneven," the managing director of the International Monetary Fund said on Monday, highlighting divergences in monetary policy as a risk that could cause volatility in the financial market.
Christine Lagarde reiterated the IMF's forecast that, more than six years after the global financial crisis, the world economy is expected to grow by only 3,5 percent this year and 3,7 percent in 2016.
"This is still below what one might expect after a crisis like this," Lagarde said in a speech to female students in India's capital, New Delhi.
"Looking ahead, something even better may come in the wake of low oil prices and interest rates. Still, there are significant risks to this fragile global recovery."
(By Douglas Busvine)