April 14, 2016 / 1:30 PM / 3 years ago

IMF pledges more support to spur global growth in 2016

WASHINGTON, April 14 (Reuters) - International Monetary Fund Managing Director Christine Lagarde said on Thursday the Fund would do more in 2016 to help its members meet economic growth objectives, including devoting more resources to protect vulnerable countries.

In a policy agenda document released during the IMF and World Bank spring meetings in Washington, Lagarde said the Fund needed to ensure it had adequate funds and would examine reforms including strengthening ties to regional lenders and re-examining its lending toolkit.

Among reforms to be considered will be a greater use of its Special Drawing Rights, the Fund’s unit of account, which will include the Chinese yuan later this year in its basket of currencies.

“The Fund’s financial resources will be available to underpin more forceful policy implementation while preserving financial stability and protecting those that are vulnerable to the current environment,” Lagarde said in the document.

She added that the IMF will work to help identify policy space and necessary measures for countries to meet their growth commitments, and it will continue to analyze the implications of negative interest rates.

Reporting by David Lawder; Editing by Paul Simao

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