Reining in high debt, reforming financial sectors and lowering unemployment rates are some of the key challenges facing the global economy as it recovers at a slower-than-predicted pace, IMF Managing Director Christine Lagarde said Thursday in Tokyo.
Ahead of a plenary meeting of the International Monetary Fund and the World Bank on Friday, Lagarde urged major industrialized and developing nations alike to make tangible progress in bolstering their economies.
"We expect action," she said, warning that although progress has been made toward resolving Europe's sovereign debt crisis, "more needs to happen — and faster."