OREANDA-NEWS. Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today in Oslo:

“It is a great pleasure to be in Norway, my first visit as the Managing Director of the IMF.

“I had the privilege of meeting Prime Minister Erna Solberg, Minister of Finance Siv Jensen, Governor of Norges Bank ?ystein Olsen, and their colleagues.

“I was pleased to take part in the Norges Bank’s 200th Anniversary Symposium on the interaction between monetary policy and financial stability, together with a strong gathering of policymakers and academics from around the world. My remarks focused on a key lesson from the global financial crisis: managing spillovers—striking the right balance between domestic objectives and external stability.

“The authorities have made intensive efforts to address the oil and gas prices shock, which has taken a toll on the Norwegian mainland economy. The key challenge is to manage the transition away from oil dependence. Norway is to be commended for lending a hand to refugees. At the same time, the recent strong influx of asylum seekers presents new challenges. Their timely integration into society and employment is critical so that they can contribute positively to the Norwegian economy.