IMF: Global crisis will repeat
The global economy has entered a very dangerous stage where the economies of developed countries can find themselves in another economic downturn, which will also have a negative impact on the economies of developing countries. This is what Director of the International Monetary Fund Christine Lagarde announced in her first speech after taking office in Washington.
According to the Voice of America, Lagarde said the low growth of economy and the tremendous amounts of debts don't contribute to the growth of demand, investments and the labor market.
Lagarde mentioned that the issue is becoming complicated due to the debt in developed countries and the lack of political will for solving the existing issues. The IMF director called on leaders of countries to take drastic measures, just like they did to confront the global financial crisis in 2009.
