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IMF chief: Global economy turning the corner
The head of the International Monetary Fund, Christine Lagarde, says the global economy is finally turning the corner after a deep recession, but the recovery is still weak. At a news conference on Thursday, Lagarde called on governments to aggressively pursue program to spur economic growth to help the millions of people who remain unemployed.
"And for some, despite the fact that growth is strengthening, they are not feeling it. We still have 200 million people unemployed. So, bold actions are needed to generate more rapid, stronger and sustainable growth." Lagarde said.
Lagarde's remarks came as finance officials begin three days of talks, at the spring meetings of the IMF and the World Bank. Their discussions -- being held in Washington -- are likely to be overshadowed by the Ukraine crisis. Lagarde says the IMF is working on a loan package to provide between 14 and 18 billion US dollars in assistance to the Ukrainian government. She said the agency hoped to have the program approved by its 24-member board by the end of this month or early May.
The president of the World Bank, Jim Kim, warned the on-going crisis in the Ukraine will have a negative economic impact on Russia.
[Source: Xinhua, Beijing, 11Apr14]
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