Reuters - The world's rich countries need to extend fiscal stimulus and job growth initiatives to fix a "dire" labor market that could threaten entire societies, the International Monetary Fund said on Monday.
OSLO (Reuters) - The world's rich countries need to extend fiscal stimulus and job growth initiatives to fix a "dire" labor market that could threaten entire societies, the International Monetary Fund said on Monday.
OTTAWA — Christine Lagarde has some strong advice for developed nations and those still in the process: follow Canada’s lead if they want to create jobs, grow their economies and avoid the temptation to build trade walls.
“I hope it (Canada’s plan) can actually go viral,” the managing director of the International Monetary Fund said Tuesday.
“At the IMF, we have strongly advocated what we call the three-pronged approach,” Lagarde told reporters in Ottawa, standing alongside Prime Minister Justin Trudeau following a private meeting.
TORONTO — The head of the International Monetary Fund says that governments need to directly support those who “suffer from globalization” amid a rising tide of protectionist sentiment around the world.
Christine Lagarde, who spoke at an event hosted by The International Economic Forum of the Americas in Toronto Monday, said that the backlash against globalization represents one of the biggest threats to the global economy.
With Washington fighting over whether to stop emergency unemployment benefits in the US, the Saudi Arabian government has re-written their economic textbooks with some wonderful new logic. In an effort to encourage its citizens to seek jobs in private companies (as opposed to the majority in government jobs - which the IMF sees as unsustainable), the Saudis are introducing compulsory unemployment insurance for all citizens with jobs.