IMF bullish on economic outlook

Prime Minister Narendra Modi has championed technology as a means of development and warned of its potential to be used as a means of destruction in his address at the sixth World Government Summit (WGS 2018) in Dubai.

“Technology has empowered the common man via minimum government, maximum governance. In e-governance, the ‘e’ represents effective, efficient, easy, empowering and equity,” said Modi on 11 Feb 2018.

“Technology has transformed the UAE from a desert into a modern wonder, but it also has a darker side of radicalization of cyberspace,” cautioned Modi who led a delegation from India, the guest country at this year’s WGS.

Speaking at the WGS, French Prime Minister Édouard Philippe outlined his country’s roadmap for transformation that includes a progressive climate change policy, corporate tax reduction and a labor law reform.

“It is our priority to fix our country and prepare for the future,” he said.

Christine Lagarde, Managing Director of the International Monetary Fund, was bullish on the outlook for economic growth despite recent market volatility.

She urged governments to implement overdue reforms and offer hope to young people by building stronger economies.

“Governments, especially in this region, where 60 percent of the population are under 25 years old, need to focus on policies that will energize the economy and encourage job creation,” she said.

The World Government Summit is the primary global forum dedicated to shaping the future of governments worldwide. Each year, the summit sets the agenda for the next generation of governments with a focus on harnessing innovation and technology to solve universal challenges facing humanity. fii-news.com