IMF-Lagarde Curtain Raiser Speech

ID

521730

DESCRIPTION
Washington, DC -- Monday 1 October 2018
1. Exterior IMF Headquarters
2. IMF Managing Director Christine Lagarde walks to podium
3. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“A year ago, I said, ‘the sun is shining, please fix the roof.’ Six months ago, I pointed to clouds of risk on the horizon. Well, it is not pouring but there is a bit of a drizzle because today, some of those risks have begun to materialize. Indeed, there are signs that global growth has plateaued. It is becoming less synchronized, with fewer countries participating in the expansion. In July, we projected 3.9 percent global growth for 2018 and 2019. The outlook has since become a little bit less bright, as you will see from our updated forecast next week. "
4. Audience cutaway
5. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“To be clear, we are not seeing broader financial contagion—so far—but we also know that conditions can change rapidly. If the current trade disputes were to escalate further, they could deliver a shock to a broader range of emerging and developing economies. "
6. Audience cutaway
7. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“My key message today is that we need to manage the risks, step up reforms, and modernize the multilateral system. Or, to put it in shipping terms, we need to steer the boat, not drift. "
8. Audience Cutaway
9. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“History shows that, while it is tempting to sail alone, countries must resist the siren call of self-sufficiency—because as the Greek legends tell us, that leads to shipwreck. Going forward, what we need are “smarter rules” for trade that ensure all can gain. We need to fix the system, yes, it is needed! But not to destroy it."
SHOTLIST
Washington, DC -- Monday 1 October 2018
1. Exterior IMF Headquarters
2. IMF Managing Director Christine Lagarde walks to podium
3. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“A year ago, I said, ‘the sun is shining, please fix the roof.’ Six months ago, I pointed to clouds of risk on the horizon. Well, it is not pouring but there is a bit of a drizzle because today, some of those risks have begun to materialize. Indeed, there are signs that global growth has plateaued. It is becoming less synchronized, with fewer countries participating in the expansion. In July, we projected 3.9 percent global growth for 2018 and 2019. The outlook has since become a little bit less bright, as you will see from our updated forecast next week. "
4. Audience cutaway
5. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“To be clear, we are not seeing broader financial contagion—so far—but we also know that conditions can change rapidly. If the current trade disputes were to escalate further, they could deliver a shock to a broader range of emerging and developing economies. "
6. Audience cutaway
7. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“My key message today is that we need to manage the risks, step up reforms, and modernize the multilateral system. Or, to put it in shipping terms, we need to steer the boat, not drift. "
8. Audience Cutaway
9. SOUNDBITE: (English) Christine Lagarde, IMF Managing Director:
“History shows that, while it is tempting to sail alone, countries must resist the siren call of self-sufficiency—because as the Greek legends tell us, that leads to shipwreck. Going forward, what we need are “smarter rules” for trade that ensure all can gain. We need to fix the system, yes, it is needed! But not to destroy it."
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