Global issues are stacking up, but can be fixed

The challenges ahead are great, but with the right policies, leadership and co-operation, they can be managed to the benefit of everyone, says Christine Lagarde

NOVEMBER’S terrorist attack in Paris and the influx of refugees into Europe are but the latest symptoms of political and economic tensions in North Africa and the Middle East. Conflicts are raging elsewhere, and there are 60m displaced people worldwide.

2015 is the hottest year on record. An extremely strong El Niño has spawned weather-related calamities across the Pacific. The prospect of rising interest rates in the United States and China’s slowdown are contributing to economic volatility worldwide. There has been a sharp deceleration in the growth of global trade, with the drop in commodity prices problematic for resource-based economies.