WASHINGTON: ECB chief Mario Draghi bows out Monday, passing the baton to former IMF head Christine Lagarde whose first task will be to heal rifts among policymakers. “Monetary policy has done a lot in recent years. Finance and economic policy must complement it now,” she told German weekly Der Spiegel on Friday. As the global outlook worsens, observers are hoping that could change under Lagarde who counts Merkel as “a dear friend”. Used to being the only woman in the room, Lagarde has vowed to tackle the gender gap in the higher echelons of the ECB.

Source: Pakistan Today October 28, 2019 02:37 UTC