A 'once in a generation opportunity' - that's how Christine Lagarde, managing director of the International Monetary Fund (IMF), described the chance to assemble the resources to finance the economic and social development of the world's poor. Following a speech in Washington DC prior to the Financing for Development conference in Addis Ababa, Ethiopia from 13-16 July, Lagarde sat down to discuss development challenges with AllAfrica.

 

The aim of the Addis meeting is to craft a plan to pay for reducing global poverty that is widely agreed among governments, the private sector, and non-governmental and civil society organizations. The targets for the effort are called the Sustainable Development Goals (SDGs).In her Brookings address, Lagarde stressed that economic growth must be more 'inclusive' and benefit more people if it is to be durable. She announced a significant IMF policy move - a 50 per cent increase in low-cost funding, as well as the extension of zero-interest loans to beleaguered countries. In the conversation afterwards, she responded to questions posed online by AllAfrica's audience.