With global crude oil prices tumbling to multi-year lows, IMF chief Christine Lagarde has said that the fall in oil prices will help boost the global economy. Speaking in Washington, Lagarde said low energy prices will help lift US economic growth to 3.5 per cent next year, from the October forecast of 3.1 per cent. While Europe is also expected to benefit from lower oil prices, Lagarde noted that the Eurozone also faces the risk of slow growth, low inflation, and high unemployment. And she called for political leaders to adopt more job-friendly labor market reforms, aggressive and innovative monetary policy, and other structural reforms. The IMF chief was also critical of Japan for being slow on implementation of fiscal and labor market reforms. On Russia, Lagarde said lower prices are adding to fragility and vulnerability.