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M. Continuo

China steps on growth are in the right direction - IMF's Lagarde


    WASHINGTON (Reuters) - Chinese measures aimed at supporting growth will provide some short-term help, International Monetary Fund Managing Director Christine Lagarde said on Monday, but over the longer term the country must lift domestic consumption and demand.

    "I think it goes in the right direction," she told an audience during a question-and-answer session at a think tank in Washington. "But in the medium term, what certainly is called for, quite eloquently by the to-be new leaders, is a model of growth that is more geared toward ... consumption, by the domestic market growth, rather than the growth of exports."

    (Reporting by Lesley Wroughton; Editing by James Dalgleish)