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Boost cooperation, IMF chief urges

United States America,Business/Economy, Tue, 03 Apr 2012 IANS

Washington, April 3 (IANS) The head of the International Monetary Fund (IMF) Tuesday called for global cooperation to increase the IMF's ability to tackle challenges, warning that the world's economic recovery remains fragile.


In an address to the annual meeting of the Associated Press in the US capital, IMF Managing Director Christine Lagarde said the global economy is making progress with encouraging signs of stabilizing financial market as well as stronger growth and employment.


"What is crucial at this point is that policymakers use the breathing space to finish the job, and not lapse into complacency," Xinhua quoted Lagarde as saying.


While suggesting that countries with policy room take more actions to boost economy, Lagarde noted that a global undifferentiated rush to austerity would be "self defeating".


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