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IMF Managing Director Christine Lagarde speaking at the Council on Foreign Relations in New York. (Reuters photo).
The IMF and Civil Society
Three Ways to Unlock Strong, Stable, Balanced Growth
July 26, 2011
In a July 26 speech at the Council on Foreign Relations in New York, IMF Managing Director Christine Lagarde said that three major challenges—sovereign debt, growth, and social instability—currently confront the world economy.
These challenges are intimately intertwined, and only by solving all three can the world unlock strong, stable, and balanced global growth, she said. Lagarde stressed that for sovereign debt to be sustainable, economic growth needs to be strong, but in a sustainable way. “And for economic growth to be sustainable, it needs to deliver the stable social chemistry that holds societies together.” Watch the video.