The head of the IMF sounded a warning on Tuesday that most countries would be unable to offset a downturn with lower interest rates and would instead need to make “smarter use” of fiscal policies in future.
Speaking at the US Chamber of Commerce in Washington, Christine Lagarde said the global economy was increasingly unsettled, setting the scene for tense meetings of finance ministers and central bank governors in Washington next week.
“The reality is that many economies are not resilient enough. High public debt and low interest rates have left limited room to act when the next downturn comes, which inevitably it will,” she said.
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