WASHINGTON – The head of the International Monetary Fund says six years after the financial crisis struck, the world is still mired in a disappointing economic recovery and will only be able to regain momentum through improved government policies.
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IMF Managing Director Christine Lagarde says the world has experienced a sub-par recovery that is "brittle, uneven and beset by risks." Lagarde says the risks include possible escalation of the strife in the Middle East and Ukraine and dangers from the Ebola outbreak in Africa.
Lagarde says policymakers will have to pursue reforms to break out of a prolonged period of mediocre growth. She called for reforms of labor markets and increased spending on infrastructure.
She was speaking at Georgetown University to preview next week's meetings of the IMF and the World Bank.