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Christine Lagarde: Jobless Rates are ‘Terrifying and Unacceptable’

Christine Lagarde has called for decisive action from world leaders to end uncertainties in the global economy that are prolonging “terrifying and unacceptable” levels of unemployment.

by Philip Aldrick, in Tokyo

Rounding on Europe and the US in particular, the managing director of the International Monetary Fund said this week’s annual meetings in Tokyo needed to be marked by “courageous action on behalf of our members”.

Speaking just days after the IMF slashed its global growth forecasts for both this year and next, Ms Lagarde said the economic weakness was not just a result of “tail risks” such as a eurozone break-up but “the degree of uncertainty in many corners of the world – whether it is Europe or America”.

“It is deterring investors from investing and creating jobs,” she said. “We need action to lift the veil of uncertainty.”

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