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13 Apr, 2014

IMF Chief: huge government and bank debts risk new financial crash – theguardian.com

Head of the International Monetary Fund Christine Lagarde issued a warning to world leaders on Thursday that they need to do more to deal with huge government and bank debts that continue to drag on growth and undermine the stability of the financial system.

Ahead of a set-piece address at the organisation’s spring conference in Washington, Lagarde said leaders need to co-operate in their efforts to repair government and bank finances to protect against a repeat of the 2008 crash.

Lagarde also vented her frustration at persistent delays to the IMF’s own reform programme, which was agreed in 2010 to increase representation from developing nations but has yet to be implemented.

Read the rest: Christine Lagarde: huge government and bank debts risk new financial crash | Business | theguardian.com.