Prepare the economy for a rainy day, IMF chief Christine Lagarde tells Ireland

The Times , Jun 26, 2018
by John Walsh, Jennifer Bray

Ireland needs to build up a rainy-day fund to cushion against the increasing likelihood of an economic shock, the head of the IMF said.

Christine Lagarde said that the government must use the benign economic backdrop to build up fiscal buffers because there was a growing number of international threats.

“As this is my third visit to Ireland as managing director of the IMF, I could not help but remember the numbers from my first visit in 2013 when growth was only 1.6 per cent as opposed to 7.8 per cent in 2017,” Ms Lagarde said after a meeting with the taoiseach in Government Buildings. “Unemployment was 14.6 per cent but in 2018 it is less than 6 per cent and long-term unemployment is 2…

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