IMF: European economies must reform

European economies are strong, but countries need to enact economic reforms to improve competitiveness and prepare for the ageing of the continent’s population, the head of the International Monetary Fund said today.

IMF managing director Rodrigo de Rato, in a speech at Georgetown University, said he was pleased that Germany, which currently heads the revolving presidencies of the European Union and the Group of Eight industrial nations, has promised to re-evaluate European economic policies and focus on promoting jobs and growth.