Global recovery 'remains uncertain'
Published 31/10/2012 | 05:00
"Because of modest growth prospects and considerable uncertainty, financial markets, investor and household confidence has not yet returned to pre-crisis levels," the statement said.
Lagarde said during a joint press conference governments of leading economies should continue fiscal consolidation at a "sensible pace" to address debt long term.
She also advised emerging economies to "loosen their monetary and fiscal tightening to accommodate what growth there is".
All three urged the eurozone to boost growth and competitiveness through reforms and the United States to present a convincing fiscal consolidation course. They welcomed efforts by some euro states to boost their competitiveness and bring down budget deficits.