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 California Telegraph 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 California Telegraph.
More InformationWASHINGTON, D.C.: The Federal Aviation Administration (FAA) said this week that it will require airlines to reduce the number of flights...
GAZA - The home of a doctor working in the emergency room at the Nasser Medical Complex in southern Gaza was struck by Israel Air...
ORLANDO, Florida: For years, Universal Orlando played second fiddle to Disney's sprawling empire in Central Florida. Now, with the...
WASHINGTON, D.C.: The U.S. Transportation Department is expected to say that fuel economy rules created under President Joe Biden went...
WASHINGTON, D.C.: The U.S. Justice Department is investigating Andrew Cuomo, the former governor of New York and a top candidate for...
WASHINGTON, DC - U.S. President Donald Trump re-ignited his trade war on Friday with an extraordinary attack on the European Union...
MINNETONKA, Minnesota: UnitedHealth shares took a sharp hit this week, after a report by the UK's Guardian alleged the healthcare giant...
HUNG YEN, Vietnam: A new US$1.5 billion luxury golf and residential project backed by the Trump Organization officially broke ground...
SYDNEY, Australia: Australian businesses are feeling optimistic about their prospects in China despite escalating global trade tensions,...
MOSCOW, Russia: Russia's top oil company, Rosneft, has taken over control of the country's largest rare earth metals deposit, Tomtor,...
GOTHENBURG, Sweden: Volvo Cars is stepping up its collaboration with Google to become the lead development partner for Android automotive...
NEW YORK, New York - U.S. stock markets fell Friday as President Donald Trump launched an extraordinary attack on the European Union,...