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Lagarde: “We need to protect the people most affected by the crisis and make sure that adjustment is as fair as possible.” (photo: Stephen Jaffe/IMF)

The IMF and Civil Society

IMF-World Bank Spring Meetings

Move from ‘Three-speed’ to ‘Full-speed’ Global Recovery, Urges Lagarde

April 18, 2013

The global economy can move beyond an uneven recovery to achieve “full-speed” if countries take customized action on a range of policy fronts, IMF Managing Director Christine Lagarde said.

She told reporters at the 2013 IMF–World Bank Spring Meetings that a “three-speed” global economy comprising countries that are doing well, that are on the mend, and those that still have some distance to travel, would not be sufficient to foster balanced and lasting growth.

“What we need is a full-speed global recovery—one that works with growth that is solid, sustainable, and balanced but also inclusive and very much rooted in green development,” Lagarde told a news conference at the start of the Spring Meetings in Washington, which involve economic policymakers from the IMF’s 188 member countries, government officials, civil society organizations, journalists, and invited participants from the academic and private sectors.

The Spring Meetings agenda includes seminars, regional briefings, and press conferences focused on the global economy, international development, and the world’s financial markets.

Read the full IMF Survey story.