International Monetary Fund Deputy Managing Director David Lipton said the world faces the danger of a renewed downturn if officials in the U.S. and Europe don’t succeed in “careful policy steering” to avoid that outcome.
Christine Lagarde chose David Lipton, an adviser to President Barack Obama and a former U.S. Treasury Department official in the Clinton administration, to be her top deputy at the International Monetary Fund.
U.S. economic growth would reach as much as 4 percent if it weren’t held back by an underperforming government sector, said David Lipton, the First Deputy Managing Director of the International Monetary Fund.
The International Monetary Fund said it aims to expand lending capacity to counter the impact of Europe’s escalating sovereign-debt crisis, which has caused the global economic outlook to deteriorate “noticeably.”
The International Monetary Fund may upgrade its growth forecast for Japan, although the nation must start fiscal and structural reforms in 2014, IMF First Deputy Managing Director David Lipton was cited as saying in an interview in the Financial Times.