Global economy still in a very difficult place, says IMF MD Kristalina Georgieva
We need to “think of the unthinkable,” as we live in “a more shock-prone world” impacted by the Covid pandemic, Russia’s invasion of Ukraine, and the recent earthquake across Syria and Turkey, the IMF MD said.
IMF Managing Director Kristalina Georgieva said at a press briefing in London that the latest assessment reflects “favorably” on the U.K. in comparison to other countries in the Group of Seven leading industrial nations. (File image) As many countries continue to face a spike in food and energy prices, the International Monetary Fund (IMF)’s Managing Director Kristalina Georgieva Tuesday said the world economy is still “in a very difficult place”.
Speaking at a World Government Summit panel hosted by CNBC, Georgieva reiterated the Fund’s outlook for this year: “We see inflation finally trimming down in quite a number of countries. The chance of finally getting on top of the problem of cost of living being a major disrupter for millions and millions of people, we see light at the end of this tunnel.”
The IMF in January predicted that global consumer price hikes would decline to 6.6 per cent in 2023, against 6.5 per cent it had predicted in October last year. It said inflation rates are anticipated to be lower this year against 2022 in nearly 84 per cent of the countries.
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