09.10.201500:35:37UTC+00IMF Meeting: Top financiers reiterate no room for errors

Top global financiers emphasized central banks have little room for mistakes in a low-growth where China's economic slowdown and over-leveraged and commodity-dependent emerging markets are major risks.

During the International Monetary Fund meeting in Lima, Peru, chief Christine Lagarde said the world is entangled in a new mediocre growth pattern amid $7 trillion in quantitative easing from banks in industrial countries since the global financial crisis.

Governments pushed through with plans to improve tax collection to bolster finances and sanction firms that arbitrage tax regimes.

The Bank of Japan is slated to prolong its money printing program as it is on the verge of a fifth year of recession, while European Central Bank is expected to extend quantitative easing as well. But the IMF urged both central bank to wait for more cues of recuperation before tightening.