IMF'S Georgieva says Europe needs to do more to unleash innovation

International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that Europe had more work to do to unleash the power of innovation to boost growth as it lags behind the U.S. economic performance.

Georgieva told a press conference at IMF and World Bank spring meetings that the U.S. economy had done better at turning technology innovation to business activity and had benefited from abundant labor and energy supplies.