GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

IMF's Lagarde Says Market Swings aren't Worrying, But Wants Reforms

Lagarde repeated an IMF forecast, originally issued last month, that the global economy would grow 3.9 percent this year and at the same pace in 2019, which she said was a good backdrop for needed reforms.

Reuters

Updated:February 11, 2018, 5:02 PM IST
facebookTwittergoogleskypewhatsapp
IMF's Lagarde Says Market Swings aren't Worrying, But Wants Reforms
Christine Lagarde, Managing Director of the International Monetary Fund (Image: REUTERS/Denis Balibouse)
Dubai: Sharp swings in global financial markets in the past few days are not worrying since economic growth is strong but reforms are still needed to avert future crises, the managing director of the International Monetary Fund said on Sunday.

Christine Lagarde, speaking at a conference on global business and social trends in Dubai, said economies were also supported by plenty of financing available.

"I'm reasonably optimistic because of the landscape we have at the moment. But we cannot sit back and wait for growth to continue as normal," she said in her first public comments on market movements since the latest round of turmoil at the end of last week.

"I'm ringing not the alarm signal, but the strong encouragement and warning signal."

Global stock markets were hit by wild fluctuations, with the US benchmark S&P 500 tumbling 5.2 percent last week, its biggest weekly percentage drop since January 2016. The volatility was fueled by investor worries about rising interest rates and potential inflation.

Lagarde repeated an IMF forecast, originally issued last month, that the global economy would grow 3.9 percent this year and at the same pace in 2019, which she said was a good backdrop for needed reforms.

She did not give details of the reforms she wanted to see beyond saying authorities needed to move to regulation of activities, not entities.

"We need to anticipate where the next crisis will be. Will it be shadow banking? Will it be cryptocurrencies?" she said.

Also Watch

| Edited by: Tarun Bhardwaj
Read full article
Most Active
Company Price Change %Gain
Reliance 920.80 +4.95 +0.54
Vedanta 251.80 +1.20 +0.48
TCS 3,585.80 -17.90 -0.50
United Spirits 3,250.30 +131.15 +4.20
SBI 266.95 -1.55 -0.58
Company Price Change %Gain
HDFC 1,820.00 +13.95 +0.77
Just Dial 507.40 +42.55 +9.15
Avenue Supermar 1,497.45 +93.25 +6.64
PC Jeweller 192.45 +4.40 +2.34
United Spirits 3,251.00 +128.95 +4.13
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 1,172.10 +60.30 +5.42
Hindalco 245.50 +11.40 +4.87
IOC 163.45 +7.55 +4.84
ONGC 175.45 +7.75 +4.62
HPCL 295.20 +11.95 +4.22
Company Price Change %Gain
ONGC 175.35 +7.70 +4.59
Tata Steel 567.20 +18.80 +3.43
Yes Bank 339.45 +8.95 +2.71
Adani Ports 379.90 +8.70 +2.34
IndusInd Bank 1,914.75 +43.55 +2.33
Top Losers
Company Price Change %Gain
Coal India 275.60 -4.50 -1.61
Tech Mahindra 702.75 -8.60 -1.21
Bharti Infratel 314.85 -3.50 -1.10
ITC 272.30 -2.55 -0.93
ICICI Bank 295.65 -2.05 -0.69
Company Price Change %Gain
Coal India 276.05 -3.80 -1.36
ITC 271.95 -2.85 -1.04
SBI 267.00 -1.50 -0.56
TCS 3,589.45 -15.35 -0.43
ICICI Bank 296.50 -0.75 -0.25