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IMF chief says world back from financial ‘abyss’

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AFP
March 20, 2012

IMF chief Christine Lagarde said Tuesday the global economy has moved back from the “abyss” but that there are still serious weakness in the world financial system.

Lagarde, visiting New Delhi for a two-day trip to attend a conference and meet leaders, said the world financial situation is not as grave as at the start of this year.

“We are further away from the abyss than we were three months ago,” the International Monetary Fund (IMF) managing director told a panel discussion.

Lagarde said steps by the European Central Bank and some European countries had helped stabilise the overall situation but there were still areas “that need to be attacked with vigour”, such as shoring up financial institutions.

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This article was posted: Tuesday, March 20, 2012 at 8:40 am





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