Lagarde Says G-20 Needs ‘Collective Momentum’ to Bring Stability

International Monetary Fund Managing Director Christine Lagarde said the world’s biggest economies need to strengthen cooperation to restore stability to global financial markets.

“What is lacking today” among global officials “is the collective momentum and the spirit” demonstrated at the Group of 20 meeting in London in April 2009, Lagarde said today at a news conference in Washington.

Lagarde said regulators in many nations need to step up “financial reform,” and that she wants “constructive dialogue’ with Argentina.

The IMF chief supported the determination of euro officials to sustain their common currency. “It’s not only economics, it’s not only about finance, it’s also about a political collective destiny,” she said.

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