"The long-awaited global revival of the economy is lasting," and three-fourths of countries around the world enjoy economic recovery within the broadest acceleration of growth since the beginning of the decade, Christine Lagarde, head of the International Monetary Fund (IMF), said. This means more jobs and improved living standards in many areas of the world, Lagarde said in a speech to students at Harvard University, quoted by AFP. IMF Managing Director assumed that the financial agency, which has 189 member countries, is likely to improve its prospects for global growth when it publishes its next forecast next week.
"We see that such an expected world revival is a well-established fact," Lagarde said. In July, the IMF predicts global economy growth of 3.5 per cent this year and 3.6 per cent in 2018 - the fastest growth since 2011.
But at the same time, Lagarde stressed that last year, in 47 countries, Gross Domestic Product per capita has decreased and the gap between the rich and the poor has continued to increase. It has urged countries to take advantage of the improved opportunities to generate reforms that can to promote prosperity. In her view, the key question now is how to make use of the opportunity offered by this revival to ensure the revival and to create an economy that benefits more people.