What is needed is a sustained recovery, not a bounce, according to IMF head
WASHINGTON—The head of the International Monetary Fund (IMF) says Europe and the U.S. must deliver on commitments to achieve a decisive turn in a global economy fraught with uncertainty.
Christine Lagarde says what is needed is a sustained recovery, not a bounce.
To achieve that objective, she says, decision makers must be real action-takers and deliver on their promises to carry out programs to get their economies back on track.
Lagarde said in a speech that the most urgent action was needed in Europe, the epicenter of the crisis.
But she also said the United States must avoid plunging off a fiscal cliff of deep government spending cuts and tax increases that could cause another recession and harm the global economy.