Tuesday, October 30, 2012

IMF chief urges major economies to push on with consolidation

BERLIN Oct 30 (Reuters) - International Monetary Fund chief Christine Lagarde said on Tuesday advanced economies must continue fiscal consolidation to reduce debt long-term while emerging economies should loosen up fiscal and monetary policy to salvage their slowing growth.

The governments of leading economies "need to continue fiscal consolidation at a sensible pace to address debt long term," Lagarde said in Berlin after meeting Chancellor Angela Merkel and the heads of world economic agencies such as the World Trade Organisation and the World Bank.