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World

IMF's head says global economic growth likely to be weaker than earlier expected

Associated Press
Published | Updated
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    Managing Director of the International Monetary Fund Christine Lagarde gestures to journalists upon arrival at the Presidential Palace in Jakarta, Tuesday, Sept. 1, 2015. Lagarde is on a two-day visit in the country.(AP Photo/Achmad Ibrahim) (The Associated Press)

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    Managing Director of the International Monetary Fund Christine Lagarde, left, holds a joint news conference with Indonesian President Joko Widodo, right, at the Presidential Palace in Jakarta, Indonesia,Tuesday, Sept. 1,2015. Lagarde is on a two-day visit in the country.(AP Photo/Achmad Ibrahim) (The Associated Press)

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    Managing Director of the International Monetary Fund Christine Lagarde, left, holds a joint news conference with Indonesian President Joko Widodo, right, at the Presidential Palace in Jakarta , Indonesia,Tuesday, Sept. 1,2015. Lagarde is on a two-day visit in the country.(AP Photo/Achmad Ibrahim) (The Associated Press)

JAKARTA, Indonesia – The head of the International Monetary Fund says global economic growth is likely to be weaker than earlier expected and will remain at moderate levels.

IMF Managing Director Christine Lagarde said Asia is still expected to lead global growth, but the pace is slowing with a risk of possibly sagging further because of recent financial market volatility.

Speaking Tuesday in a lecture at the University of Indonesia, Lagarde said the global economic situation will have a significant impact on developing countries, including Indonesia.

Lagarde, who is on a two-day visit to Indonesia, met Tuesday with President Joko "Jokowi" Widodo and discussed the global economic situation.

Indonesian officials and the IMF's senior resident representative denied speculation that Indonesia is seeking loans from the IMF.