At the open of the 2017 Annual Meetings of the World Bank Group and International Monetary Fund, IMF Managing Director Christine Lagare urged policymakers to adopt policies for inclusive growth.
In a keynote speech at the Plenary on Friday, Lagarde urged governors of the member nations to work together.
“In our increasingly interconnected world, countries travel together but on different paths and at different speeds. Policies need to keep pace. This doesn’t mean a one-size-fits-all for any of the categories of countries in which you feel that you belong. It means a tailored mix of monetary, fiscal and structural policies to consolidate the recovery,” said Lagarde.
She added that the strengthening global recovery offers a chance to address problems.
“We should not miss this opportunity to address more decisively, more directly the issue which has so damaged our peoples and our societies. And, I am talking here about excessive inequalities. Why? Apart from the moral imperative, it hinders growth, it erodes trust and it fuels political tensions. Despite reductions in poverty and inequality between countries over the past generation, opportunities, income and wealth inequality within countries has been rising.”