“Europe has been criticized quite a lot in recent days, but in reality this is probably a good thing, and we should thank those who criticize it,” Christine Lagarde said during a discussion held at the close of the Davos Forum.

“Because it made us fully realize that (…) we need to focus more on innovation, on improving productivity, and on everything else,” she added.

In a speech in Davos, Donald Trump referred to Europe’s weaknesses, delivering sharp criticism of US allies.

Ukrainian President Volodymyr Zelensky also expressed regret in Davos that Europe appears fragmented rather than presenting itself as a “real global power.”

“We heard a lot of noise this week,” Lagarde continued, “but we must distinguish between messages and noise,” stressing that it is important “to tell the truth.”

“Trust and truth go together. Building trust takes time, but undermining it takes much less time,” she explained, adding that “trust has been undermined a little — perhaps a lot.”

The head of the Central Bank said she has “great trust and appreciation for the American people, and I know that in the end the deepest values will prevail.” Christine Lagarde also called for “attention to be paid to the way wealth is distributed and to the rise in inequalities.”

“If we do not take all this seriously, we are heading straight toward serious difficulties. (…) We must also bear in mind that in some countries conditions are bad and are worsening,” she added.

For her part, the Managing Director of the International Monetary Fund, Kristalina Georgieva, reminded the audience that despite the global growth forecast being revised upward to 3.3% for 2026 amid ongoing tensions, it remains “insufficient.”

“Let us not succumb to complacency. Growth is not strong enough. And because it is not, the debt burden we are carrying — reaching 100% of GDP — will become a particularly heavy load,” she warned.