Policymakers across the world must act now to check inequalities : IMF chief

Policymakers across the world must act now to check inequalities even as there is no “silver bullet” to contain this problem, IMF chief Christine Lagarde said today amid a raging debate here at WEF on widening wealth gap and the resultant rise in populism.

She also said that turning back on globalisation will be a wrong approach.

“Yes and now, the economists would say,” the Managing Director of the International Monetary Fund (IMF) said on whether middle class is in crisis.

“There is this crisis in the advanced economies,” she added.

According to her, the middle class is both growing and shrinking — growing on a global basis, but shrinking in countries like the US.