Lagarde calls for urgent action


The managing director of the International Monetary Fund (IMF), Christine Lagarde, on Saturday called for urgent action to assist global economic recovery.

"The global economy continues to grow, yet not enough," said Lagarde. "Some of the main causes of the 2008 crisis have been addressed, yet not adequately. There remains a path to recovery, yet we do not have the luxury of time".

Lagarde said two "rebalancing acts" were necessary, a "domestic demand switch from the public to the private sector

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