LAGARDE…When the sun is shining you should take advantage to fix the roof
PARIS, France (AFP) — International Monetary Fund chief Christine Lagarde has urged France and other countries to push through reforms “while the sun is shining” on the global economy.
In an interview with France’s Le Journal du Dimanche published Sunday Lagarde said the strength of the global economic recovery had taken the IMF by surprise.
“In 2017, for the first time in a long time, we revised our growth forecasts upwards whereas previously we used to lower them,” she said.
Global growth of 3.6 per cent was both “stronger and more widely shared” in 2017, she said, noting that developed economies were now growing again under their own steam and no longer merely being pulled along by demand in emerging markets.
Lagarde said the favourable climate lent itself to implementing reforms.
“When the sun is shining you should take advantage to fix the roof,” she said, using one of her favourite maxims.
This year’s global growth is on a par with the average of the two decades leading up to the global financial crisis of 2007-2008.
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