MarketWatch
20 Sep 2019, 09:48 GMT+10
World economic growth is "fragile" and "under threat," former International Monetary Fund director Christine Lagarde says, and is over-reliant on the actions of central banks.
In an interview published late Thursday by Agence France-Presse, Lagarde - who exited her IMF post last week and is in line to become president of the European Central Bank before year's end - also said central banks should be predictable and "stick to [their] mandate."
Lagarde urged governments to take a more active role in resolving economic threats on their own, instead of relying on central banks to clean up their mess. "I think central bankers have done an awful lot and were for many years regarded as the only game in town," she told AFP.
Lagarde took over the IMF in 2011, right after the financial crisis, and is credited with helping stabilize the global economy though uncertain times. She gave few hints as to how she may govern the ECB.
While she told AFP that tariff wars and Brexit are the biggest current threats to global growth, she noted that those issues "are manmade and can be man-fixed."
"A bit of woman wouldn't hurt," she added.
Earlier Thursday, the Organization for Economic Cooperation and Development downgraded its world economic outlook to the worst growth rate since the financial crisis.
Source: MarketWatch
Get a daily dose of Perth Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Perth Herald.
More InformationGENEVA, Switzerland: A new United Nations report alleges that dozens of global corporations are profiting from and helping sustain...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
SYDNEY, Australia: Australia will not ease its strict biosecurity rules during trade talks with the United States, Prime Minister Anthony...
KHARTOUM, July 5 (Xinhua) -- After more than two years of devastating conflict, Sudan's capital Khartoum is slowly emerging from the...
New Delhi [India], July 5 (ANI): India has emerged as one of the most equal societies globally, with a Gini Index of 25.5, according...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
MELBOURNE, Australia: A second embryo mix-up in just two months has pushed one of Australia's largest IVF providers back into the spotlight,...
SYDNEY, Australia: Australia will not ease its strict biosecurity rules during trade talks with the United States, Prime Minister Anthony...
Grenada [West Indies], July 5 (ANI): Australia held a narrow 33-run lead at the end of the first innings after dismissing West Indies...
Chennai (Tamil Nadu) [India], July 5 (ANI): Former Indian cricketer Suresh Raina is set to make his acting debut in a Tamil film under...
How is China governed from the ground up? What does political leadership look like far from Beijing? In this 80-minute documentary,...