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IMF's Lagarde Urges Nations To Focus On Growth, Jobs

International Monetary Fund (IMF) Managing Director Christine Lagarde urged nations to focus on real economy and on growth that can deliver jobs.

Speaking at a news conference in Washington on Thursday, Lagarde said policymakers have more work to do to and cannot revert to business as usual, though they succeeded in avoiding an economic collapse following the global financial crisis.

She said in euro area, continued monetary easing is needed to sustain demand. Also, progress needs to be made on banking union. "For the United States, all sides should pull together in the national interest, reaching agreement on time on increasing the debt ceiling and on medium-term debt reduction," she added.

Emerging market economies should rebuild their buffers against crisis effects, while low-income countries need to grow at a pace that is sustainable, Lagarde said.

by RTTNews Staff Writer

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