'Action please,' IMF's Lagarde says to world's economic leaders

Washington (AFP) –


IMF chief Christine Lagarde called strongly Thursday for action around the world to revive growth and tackle inequality, singling out Germany, Canada and South Korea to provide stimulus.

"What is key is now action, so my message to the members of the IMF tomorrow will be, 'Action, please,'" Lagarde told reporters in Washington at the opening of the International Monetary Fund and World Bank's annual meetings.

The IMF this week forecast "subdued" global growth of 3.1 percent in 2016, rising to 3.4 percent next year, with the developing world expected to outpace advanced economies.

"My hope at the end of the annual meeting is that each finance minister, each governor of a central bank, will go back home thinking, 'What can I do in order to propel that growth which is currently too low, for too long benefiting too few?'" said Lagarde.

Lagarde pointed to three leading economies as examples of states that have the financial wherewithal to spend more to accelerate growth.

"We believe that some countries have fiscal space. Well if so, the should use it," she said. "We are certainly including in that category countries like Canada, like Germany, like Korea."