Magazine : 
IMF for More Public and Private Investment in India
SAN FRANCISCO: International Monetary Fund chief Christine Lagarde has called for more public and private investment to close infrastructure gaps in countries like India.
"Public investment has taken a hit over the years in many countries; higher, well-prioritised investment would increase potential output and jobs," IMF chief told a Washington audience.
"In Brazil, India, South Africa, and across the ASEAN countries, more public and private investment is essential to close infrastructure gaps.
Investment to upgrade existing infrastructure networks is also needed in a number of the advanced economies, for instance, in Germany and the U.S.," she said in her address to the School of Advanced International Studies.
As the world is still recovering from the Great Recession and geopolitical tensions are rising, how can we strengthen the international cooperation that is key to addressing these challenges, She questioned.
She said the global economy has certainly stabilised since the onset of the financial crisis, but the recovery was too weak for comfort,
"Moreover, unless countries come together to take the right kind of policy measures, we could be facing years of slow and sub-par growth, well below the solid, sustainable growth that is needed to create enough jobs and improve living standards into the future," she added.
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