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IMF Chief Urges More Global Reforms, Praises China's Business

IMF Managing Director Christine Lagarde (file).
IMF Managing Director Christine Lagarde (file).
Diaa Bekheet

Christine Lagarde, managing director of the International Monetary Fund, ended a two-day visit to China Sunday, with words of caution about the global economic recovery and praise for the country's business policies.

Lagarde told an audience of business leaders and officials in Beijing that the world had stepped back from the brink, but still urgently needs more financial reforms.

She said European leaders need to stay vigilant about debt, focus on steady implementation of financial measures and carefully watch the economic situation in Greece.

Lagarde called China a bright spot in an uncertain global economy, and said the global economic situation might have been much worse except for the impetus that Beijing provides to growth and stability.

She urged China to forge ahead by maintaining a prominent role in global policy discussion and by sustaining efforts to accelerate the transformation of the Chinese economy.

During her visit, Lagarde met with Vice Premier Wang Qishan, People's Bank of China Governor Zhou Xiaochuan and other senior officials.

Some information for this report was provided by AP, AFP and Reuters.

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