The head of the International Monetary Fund, Christine Lagarde, said that economic growth can be saved, even against the backdrop of the growing risks to the global economy. Lagarde referred to the geopolitical risks, the credit cycle, the outflow of capital and a reduction in oil prices.
China is in the difficult situation of transition to focusing on services and consumption, and IMF chief urges nations to set a target growth range from 6% to 6.5%. This month, the government announced that had set a target of 6.5% to 7% economic growth for this year - slower than that achieved in the past year, the goal of 7%.
At the conference, G 20 on Friday, Lagarde said that the results of the monetary policy of the central bank are forfeited, even innovative. This week, the IMF urged countries with the largest economies of the world to come up with new ways to support demand and prevent risks, as the prospects for global growth deteriorated.
Lagarde said that emerging markets present a mixed picture, and added that the IMF went to meet a number of countries, depending on the raw materials, which are in need of financial support from the International Monetary Fund.