“ACCELERATE, BUT SLOWLY”, IS WHAT WAS HIGHLIGHTED FROM THE INTRODUCTORY SPEECH OF CHRISTINE LAGARDE
Christine Lagardebelieves that the mediation of Kazakhstan can relieve global tensions.
The Managing Director of the International Monetary Fund, Christine Lagarde, believes that global tensions are expected to decrease in the next six months, and Kazakhstan’s mediation can play an important role. She announced this on Thursday during the plenary session of the XII Astana Economic Forum.
“Our forecast indicated that 75% of the global economy has accelerated over the past two years, however, unfortunately, in 2019 we see that 70% of global GDP slowing down. I am not suggesting that there is a recession, but the slowdown is unambiguous compared to last year, where we see it has decreased from 3.6% to 3.3%.” said Lagarde.
She expressed the hope that next year the GDP will yet again increase to 3.6%, which suggests that “there will be no financial tightening of the belts and no additional risks.” Among the possible risks, she cited international tensions that are found in abundance, in particular between that of the United States and China.
“Although we expect a global economic rebound in the next six months, we cannot be certain. And we hope that the voltages that exist at the moment will be relaxed for certain reasons. And your mediation, perhaps Mr. President Nursultan Nazarbayev, will help with this, ”Lagarde stressed.
In general, the IMF Managing Director stressed that if Central Asia can use the opportunities of financial technologies, as the emerging market countries in other regions have done, this can significantly improve the situation of poor citizens, women and youth.
“In this morning’s session, I’ll look more at increasing inclusiveness within countries, but today’s forum also offers opportunities for expanding ties between countries,” she concluded.
The Astana Economic Forum is the flagship business event in Eurasia.
Since the launch of the AEF eleven years ago, the event has become one of the most influential international platforms for discussing issues of the world economy and the financial system. Over 50,000 delegates participated in the forum from 150 countries, including more than 20 Nobel laureates and 30 high-level foreign political figures.
http://astanaeconomicforum.org
Photo from Akorda.kz
16th of May, 2019
