Ms Lagarde welcomed the G20 resolve to achieve a lasting reduction in global imbalances through joint actions to avoid persistent exchange rate misalignments, and the group's commitment to refrain from competitive devaluation, to resist protectionism in all forms, and to keep markets open.
Ms Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today after the conclusion of the Group of 20 Finance Ministers and Central Bank Governors meeting in Moscow:
“As emphasised by the G20, global growth is still weak, with unemployment remaining unacceptably high in many countries. The weak global performance derives from policy uncertainty, private deleveraging, continued fiscal drag, as well as insufficient progress on rebalancing global demand. Implementation of the financial reform agenda to build a more resilient financial system remains a priority. Credible medium-term fiscal plans also need to be in place to provide flexibility while growth is more fully restored. It was heartening to see the G20 reaffirmed its commitment to move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals.”
Full statement
© International Monetary Fund
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