World News

IMF Warns Global Economy 'Much Too Weak'

The International Monetary Fund says the global economy is improving following the world's 2008 downturn, but that it is "much too weak for comfort."

Speaking Wedneday in Washington, IMF chief Christine Lagarde warned that the standoff between the West and Russia over Moscow's annexation of Ukraine's Crimean peninsula and other political crises could hinder economic growth.

She said the world's economic fortunes will only advance modestly if key global leaders fail to embrace policies to further job growth and better living standards across the globe.



"We could very well be facing years of slow and sub-par growth. Some have called it the new normal."



She said the world economy advanced 3 percent last year and predicted increased growth this year and next.

Lagarde spoke ahead of next week's World Bank and IMF meetings that will draw several hundred world economic leaders to Washington.

Featured Story

FILE - Boris Nemtsov speaks to The Associated Press Television News in Moscow, Russia, Dec. 21, 2011.

Bill Browder Tells VOA Russian About Boris Nemtsov Murder

Noted critic of President Putin is co-founder of Hermitage Capital Management fund that has been described as one of biggest foreign investors in Russia from 1995 to 2006 More