Publication

The key message of this speech by IMF Managing Director Christine Lagarde is that countries must act now – and act boldly – to steer their economies through this dangerous new phase of the recovery. The world is collectively suffering from a crisis of confidence, in the face of a deteriorating economic outlook and rising concerns about the health of sovereigns and banks. All this is happening at a time when the scope for policy action is considerably narrower than when the crisis first erupted.