WASHINGTON - The head of the International Monetary Fund warns that leading nations need to embrace bold policy steps to accelerate a still-modest and fragile global economic recovery.
IMF Managing Director Christine Lagarde says that as the world still struggles to emerge from the 2008 financial crisis, economies are under threat from tensions involving Ukraine and Russia to inaction in countries that should be driving growth.
Lagarde says the European Central Bank should consider lowering interest rates further and using unconventional policies to support growth and fight inflation that is too low.
Her comments came in a speech previewing next week's meetings of global finance officials in Washington.