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IMF Chief warns of global recession

08-29-2011 12:14 BJT

The new head of the International Monetary Fund warns that the global economy risks falling back into recession, and the urgent coordinated policy action including the mandatory recapitalization of European banks is needed. That's the IMF chief Christine Lagarde's first major policy speech since taking over the top IMF job.

She says world's economic developments recently have indicated that the situation is in a dangerous new phase, and it risks of seeing the fragile recovery derailed. Meanwhile, she urged the advanced economies must forge long-term plans to bring their debt under control, but at the same time should not pursue belt-tightening so fast that it imperils recovery.

She adds that monetary policy should remain highly accommodative, as the risk of recession outweighs the risk of inflation.

Editor:Li Wanran |Source: CNTV.CN

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