16/12/2011

IMF Warns 'No Country Immune To Crisis'

The head of the International Monetary Fund has warned that no country in the world will be immune to the economic crisis as the outlook continues to be "gloomy".

In an address about the global financial situation, Christine Lagarde said that the world economic outlook at the moment was "not particularly rosy".

Speaking at the State Department in Washington, Lagarde said: "There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super-advanced economies, that will be immune to the crisis that we see not only unfolding but escalating.

"It is not a crisis that will be resolved by one group of countries taking action. It is going to be hopefully resolved by all countries, all regions, all categories of countries actually taking some action."

Meanwhile, the world's two largest economies are in extended talks as Barack Obama visits China on an eight-day visit to Asia.

The two countries have been speaking about a trans-Pacific free-trade zone, while Obama's presence represents America’s first participation in the East Asian Summit meeting in Bali.

(DW)

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