International Monetary Fund (IMF) chief Christine Lagarde has hailed EU leaders' efforts, but said more must be done to solve the eurozone crisis.
Speaking in Tokyo, she said that "significant steps" had been taken, but that further reforms and strong implementation were needed.
Credit ratings agency Moody's also said on Friday that the short-term risks to the eurozone economy had reduced.
But it warned there would be a high cost to wealthier eurozone countries.
Christine Lagarde was speaking at an economic symposium in Tokyo as part of a week-long tour of Asia.
Referring to measures adopted by eurozone leaders in Brussels last week, she said: "From the IMF perspective, we believe that more needs to be done in order to complete [the reform].
"It's also a question of implementation - diligent, rigorous, steady implementation."
She also warned that the IMF's forecast for global economic growth would be lowered.
"What I can tell you is that it will be tilted to the downside and certainly lower than the forecast that was published three months ago," she said.
In April, the IMF predicted global economic growth of 3.5% in 2012.
Japanese Prime Minister Yoshihiko Noda complained that Europe's debt problems were hurting the Japanese economy because they were causing unjustified rises in the value of the yen.
"Market jitters on eurozone problems, especially one-sided yen rises that do not reflect Japan's economic fundamentals, are inflicting severe damage on economic sentiment," he said.
No comments:
Post a Comment