IMF chief warns of mediocre global growth

The IMF chief Christine Lagarde warned of mediocre global growth in her curtain-raising speech for the IMF-World Bank annual meetings on Wednesday.
The IMF is expected to downgrade its growth outlook for the global economy.
According to Lagarde, the advanced economies will see modest pickup in growth, while the emerging economies are likely to see their growth rates falling for a fifth consecutive year.
The IMF Managing Director said it will be critical to properly manage the pending move by the U.S. Federal Reserve to higher interest rates and the transition in China from investment-driven growth to consumer-led one.

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