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IMF’s Lagarde: Oil exporters not fully recovered from 2014 shock, warns of ‘white elephant projects’

“Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the International Monetary Fund said on Saturday, and she cautioned against spending money on “white elephant projects.”” writes Simon Dawson for Speaking about the global economy, Lagarde said the IMF was not seeing a global recession on the horizon, but risks were rising for global growth due to trade tensions and tightening financial conditions.

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