IMF managing director says economy is at ‘delicate moment’
April 2, 2019 by Martin Crutsinger / AP
WASHINGTON — The head of the 189-nation International Monetary Fund said Tuesday the global economy is at a “delicate moment” with a hoped-for rebound in growth later this year being threatened by a variety of factors such as rising trade tensions between the world’s two biggest economies.
IMF Managing Director Christine Lagarde said the IMF does not forecast a recession in its updated economic outlook to be released next week, but she called the current situation “precarious” and vulnerable to policy mistakes.
She said a hoped-for rebound later this year had been helped by the actions of central banks including the announcement of the Federal Reserve earlier this year that because of the economic slowdown, it was putting future interest rate hikes on hold.
“To be clear, we do not see a recession in the near term,” Lagarde said in a speech to the U.S. Chamber of Commerce. “In fact, we expect some pickup in growth in the second half of 2019 and into 2020.”