Lagarde calls to expand the benefits of globalization

Lagarde calls to expand the benefits of globalization

13/09/2016 source “El Financiero”

The general director of the International Monetary Fund (IMF), Christine Lagarde, defended before the Toronto Global Forum, that began yesterday, the benefits of globalization, urging governments to act so that these benefits reach all.

The Global Forum Toronto is an event organized by the International Economic Fund of America, where id debated the state of the economy in the world and in the American continent, including annual meetings in Montreal, Toronto, Miami and Paris, and this is its tenth edition.

Lagarde was the main speaker of the first of these three days of debates, to which attend politicians, executives and financial experts, businessmen and academics.

In her speech, she acknowledged that there is a rising tide of protectionist pressures and negative reactions throughout the world against globalization, which is a major threat to the world economy, and stressed that governments should help directly and should contribute to the well-being of people negatively impacted by the rise of global trade, including those who have lost their jobs.

The IMF estimated that there will be an overall growth of 3.1% this year, but Lagarde acknowledged that this growth may be lower. “Every time I hope that we will review the rising growth, comes something that makes us revise the descent,” said Lagarde in his third visit to Canada since she took up the leadership of the IMF.

The next IMF economic forecast will be published in October.