## Lagarde in Davos: How to Avoid an Economic Deep Freeze

_IMF Blog, January 27, 2012_

## Source details

**Canonical URL:** [Lagarde in Davos: How to Avoid an Economic Deep Freeze](https://www.imf.org/en/blogs/articles/2012/01/27/lagarde-in-davos-how-to-avoid-an-economic-deep-freeze)

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## Bibliographic details
- Authors: iMFdirect
- Published: January 27, 2012

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### Overview
- Publication: iMFdirect
- Date: January 27, 2012
- Context: Remarks and appearances by IMF chief Christine Lagarde at the 42nd Annual Meeting of the World Economic Forum in Davos amid "the heaviest snowfall in Davos for decades."
- Immediate concern: The IMF "recently sharply revised downward its forecast for global economic growth."

### Policy priorities
- Main goal: "to get growth going again" because "that’s most needed. There is too much unemployment around the world."
- Urgent need to resolve the eurozone crisis, described as central to current global economic concerns and the risk of a downward spiral—what Lagarde has called a "1930s moment."
- Policy approach advocated: action must be "coordinated, cooperative and comprehensive."
- Communication channels: Lagarde set out some policy priorities in a video interview and "spoke on Facebook."

### Worldwide repercussions
- Core point: While Europe may be at the epicenter of the crisis, "today’s economic difficulties are being felt in all quarters of the globe."
- Responsibility: Policymakers and leaders everywhere must ensure that "their jurisdictions, their countries, their regions, but also the global community does better and actually can manage through the crisis."
- IMF role and resource needs:
  - The IMF has called for a big increase in its lending resources.
  - Institutional mandate described: "The IMF is a guardian of stability and a builder of confidence."
  - Rationale for additional funding: "there is a lot to be done at the moment, and we probably will need more funding to be able to respond to a time of crisis ... because it is our membership at large that we care for."

### Media and outreach
- Video interview mentioned (embedded YouTube reference in source).
- Social media engagement noted (Facebook).

*IMF blog post: "Lagarde in Davos: How to Avoid an Economic Deep Freeze", iMFdirect, January 27, 2012.*

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## References

- [https://www.imf.org/wp-content/uploads/2012/01/md-davos-2012.jpg](https://www.imf.org/wp-content/uploads/2012/01/md-davos-2012.jpg)
- [forecast for global economic growth](http://www.imf.org/external/pubs/ft/survey/so/2012/NEW012412A.htm)
- [speech](http://www.imf.org/external/pubs/ft/survey/so/2012/NEW012312A.htm)
- [https://www.imf.org/wp-content/uploads/2012/01/davos-wef-2012.jpg](https://www.imf.org/wp-content/uploads/2012/01/davos-wef-2012.jpg)
- [institution has called for](http://www.imf.org/external/np/speeches/2012/012312.htm)

_Source: https://www.imf.org/en/blogs/articles/2012/01/27/lagarde-in-davos-how-to-avoid-an-economic-deep-freeze_