Cheap oil, strong US economy no cure for weak growth: Lagarde

Washington

INTERNATIONAL Monetary Fund (IMF) managing director Christine Lagarde said cheap oil prices and a resurgent US economy won't be enough to help overcome sluggishness elsewhere in global growth.

"The obvious question is this: should lower oil prices and a stronger recovery in the United States make us more upbeat about the prospects for the global economy?" Ms Lagarde said in a speech on Thursday in Washington at the Council on Foreign Relations. "The answer is most likely 'No,' since there are still powerful factors that weigh on the downside."