IMF chief presses for more, faster action on economic woes

The biggest change since the IMF met in April in Washington is that the global economic slowdown is not only affecting advanced economies but is also having a "ripple effect in emerging markets, particularly in Asia," Christine Lagarde said in Tokyo, where the international lender is holding its annual meeting with the World Bank.

 

Action would dispel the uncertainty that is holding back a recovery, she said.

 

"Whether you turn to Europe, to the United States of America, to other places as well, there is a level of uncertainty which is hampering decision makers from investing (and) from creating jobs," Lagarde said. "We need action to lift the veil of uncertainty."   "We expect action," she said. "We expect courageous and cooperative action on the part of our members."

Eurozone policymakers have already acted to resolve the sovereign debt crisis in the region, where "the most urgent action is needed," Lagarde said. But "more needs to happen and faster," she said.//DPA