Gwamcee News
The International Monetary Fund (IMF), Managing Director Kristalina Georgieva, at the weekend, called for a strong policy action to secure a robust economic recovery.
The call followed expectation of global growth over the next five years to languish at the slowest pace for more than three decades.
In a speech ahead of the Spring Meetings, Georgieva said countries should fight inflation and safeguard financial stability, improve medium-term prospects for growth, and cooperate to reduce global disparities.
With rising geopolitical tensions and still-high inflation, a robust recovery remains elusive,” she said. “This harms the prospects of everyone, especially for the most vulnerable people and countries.”
The IMF projects global growth to remain around three percent over the next five years the lowest medium-term growth forecast since 1990.
Georgieva called on countries to work together to prevent conflict from worsening global poverty and hunger and from wiping out the peace dividend the world has enjoyed for the past three decades.
“We also need a step change in international cooperation to reduce the impact of economic fragmentation and geopolitical tension, especially over Russia’s invasion of Ukraine,” She added.
