International Monetary Fund chief Christine Lagarde said today that the global debt crisis is “escalating” and threatens to become too big for one country or region to solve by themselves, world media report on Friday.
She called for a global effort to solve the global debt problem that could lead to a situation much like the Great Depression of the 1930s and the resultant World War II.
She sees the risk of protectionism, a gloomy global economic outlook with slow growth, high debt burdens and weak individual economies.
IMF chief Christine Lagarde warns about global economic crisis
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