DAVOS: IMF chief Christine Lagarde today cautioned world leaders against being complacent about economic growth and expressed concern that some developing economies are not sharing the benefits of their growth.Without taking any names, she also stressed that one- fifth of emerging and developing economies saw their per capita income decline in 2017. "This is good news and we should feel encouraged, but not satisfied. Because too many people are still left out of this growth. About one-fifth of developing and emerging economies saw their per capita income decline in 2017," she added.The IMF chief warned that there is uncertainty in the year ahead due to public sector vulnerability and a troubling increase in debt in many countries. "It is when the sun is shining that you want to repair the roof," Lagarde said, while adding that despite the heavy snow in Davos, now is the time for world leaders to fix their roof.While urging policy makers to use the current circumstances to make the structural or fiscal reforms that are too hard to make in more difficult times, Lagarde also sought steps to make growth more inclusive, not just across countries but within countries.Further, she pitched for global collaboration to fight corruption, improve conditions for trade, stop tax evasion and prevent catastrophic climate change.The IMF, in its latest outlook, has projected India to grow at 7.4 per cent in 2018 as against China's 6.8 per cent, making it the fastest growing country among emerging economies

Source: Economic Times January 22, 2018 15:56 UTC