Global market turmoil: Reforms needed to avert future crises, says IMF chief

“I'm reasonably optimistic because of the landscape we have at the moment. But we cannot sit back and wait for growth to continue as normal,” she said.

Christine Lagarde, Managing Director of International Monetary Fund (IMF) has said economic growth worldwide is strong and, hence, hiccups in the global financial markets are not worrying. 
 
However, reforms are still needed to avert future crises, she added.
 
Lagarde was speaking at a conference on global business and social trends in Dubai on Sunday.
 
As per her, there are economies which are also supported by plenty of financing available. 
 
“I'm reasonably optimistic because of the landscape we have at the moment. But we cannot sit back and wait for growth to continue as normal,” she was quoted as saying.
 
“I'm ringing not the alarm signal, but the strong encouragement and warning signal.”
 
Major bourses in New York, Tokyo and London have been recording steep losses for past few weeks. 
 
Markets in Asia and Europe have also been incurring losses. 
 
Source: Media reports

 


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