Christine Lagarde has called on policymakers to pass a range of economic reforms to avoid the trap of years of lacklustre growth — a trap which the International Monetary Fund’s managing director said risked stoking frustrations with the global economic and political establishment.

克里斯蒂娜•拉加德(Christine Lagarde)呼吁政策制定者出台一系列经济改革方案以避免落入多年增长低迷的陷阱——国际货币基金组织(IMF)总裁表示，这种陷阱可能引燃人们对全球经济和政治体制的不满。

Ms Lagarde’s call to action comes ahead of what is widely anticipated to be the lowering of the IMF’s growth forecasts for the global economy next week at its spring meetings in Washington. Economists at the fund are increasingly pessimistic about growth particularly in emerging economies. They are also wary of new shocks that might emanate from large developing economies such Brazil, China and Russia.

拉加德呼吁采取行动之际，外界普遍预计，IMF将于下周在华盛顿举行的春季会议期间下调全球增长预测。IMF的经济学家们日益对增长感到悲观，尤其是新兴经济体的增长。他们还担心巴西、中国和俄罗斯等大型发展中经济体可能带来新的冲击。

In January the IMF’s forecast for global growth this year was 3.4 per cent.

今年1月，IMF预计今年全球增长3.4%。

Global growth “remains too slow, too fragile and risks to its durability are increasing”, Ms Lagarde said yesterday in Frankfurt, adding that the threat of a “new mediocre” of weak economic progress had risen.

拉加德昨日在法兰克福表示，全球增长“依然过于缓慢、过于疲弱，其持久性面临的风险正在累积”。她补充称，经济进展疲弱的“新平庸”威胁有所上升。

“Because growth has been too low for too long, too many people are simply not feeling it,” Ms Lagarde said, later adding that economic frustrations and political uncertainty were “leading people to question established institutions and international norms”.

拉加德表示：“由于过于疲弱的增长持续了太久，太多的人根本没感觉到，”她后来补充称，经济上的挫败感和政治不确定性“导致人们质疑老牌机构和国际规范”。

Ms Lagarde’s comments came at the start of risk-off day in markets. The Stoxx 600 of European equities sank 1.6 per cent in morning trade after the eurozone service sector recorded its slowest rate of growth in more than a year. German Bund yields dropped below 10 basis points to touch a 12-month low.

拉加德发表此言之际，市场迎来一个避险情绪占上风的交易日。在欧元区服务业录得一年多来最疲弱增长后，欧洲股指斯托克600指数(Stoxx 600)早盘下跌1.6%。德国国债收益率跌破0.1%，触及12个月来的低点。

The IMF chief called on the US to raise the federal minimum wage, expand earned income tax and strengthen family-friendly benefits. The eurozone needed to unveil better training and employment-matching policies to tackle an unemployment rate that remains in double figures. Commodity exporters and low-income countries should diversify.

拉加德呼吁美国提高联邦最低工资水平，扩大收入所得税抵免并增加家庭福利。欧元区需要出台更好的培训和就业匹配政策，以解决依然高达两位数的失业率问题。大宗商品出口国家和低收入国家应该多元化。

However, Ms Lagarde, who last month won a second five-year term at the helm of the IMF, stopped short of reiterating a call for “co-ordinated action” that the fund had made ahead of a recent G20 finance ministers’ meeting in China and which her top deputy, David Lipton, had stressed just a few weeks ago. That call was rejected by some in the G20, including Wolfgang Schäuble, the German finance minister, as too alarmist.

然而，上月获得IMF总裁第二个五年任期的拉加德没有再呼吁“协同行动”。IMF最近在中国举行的20国集团(G20)财长会议上曾经这样呼吁，而且IMF第一副总裁戴维•利普顿(David Lipton)数周前还强调过这一点。在G20会议上，德国财长沃尔夫冈•朔伊布勒(Wolfgang Schäuble)等人对这一呼吁不以为然，称其过于危言耸听。

Ms Lagarde backed the US Federal Reserve, and said the decision to raise rates in December “remained appropriate”. She also supported the Bank of Japan and the European Central Bank in deploying negative interest rates.

拉加德支持美联储(Fed)，并表示去年12月的加息“依然是合适的”。她还支持日本央行(BoJ)和欧洲央行(ECB)出台负利率的决定。