IMF warns of medium-term risk to Chinese economy

Beijing, Sept 12: The Intertiol Monetary Fund (IMF) chief on Tuesday warned Chi of a medium-term risk to its economy owing to credit intensive growth and encouraged it to continue its structural reforms. Christine Lagarde, who was in Beijing to attend the 1+6 Round Table Dialogue meeting said the 6.9 per cent growth in Chi’s GDP during the second quarter of 2017, against the 6.7 per cent during the same period of 2016, “shows clearly the strong global moment and Chi own commitment to take properly policies”, reports Efe news. The 1+6 Round Table Dialogue comprises the IMF, World Bank, Intertiol Labour Organisation, World Trade Organisation, Organisation for Economic Co-operation and Development and the Fincial Stability Board,

However, Lagarde also warned it was observed that “the medium-term risks increase, especially as a result of a credit intensive growth”, and urged Chinese authorities “to continue with reforms taking advantages of the solid economic growth”, while “focusing more on the quality and stability of the growth than the quantity”. Meanwhile, Chinese Prime Minister Li Keqiang said Beijing was aware of the risks facing its economy and was convinced of being able to address them successfully. (IANS)