Downbeat IMF Boss Predicts an Uneven and Slow Recovery
- Kristalina Georgieva Offers a Sobering Outlook
- Economies Have Been Hit by Supply Chain Shocks and the Ukraine War
- Some Are Doing Better Than Others at Fighting Back
Slow progress: Kristalina Georgieva
The International Monetary Fund boss presented a bleak forecast for the global economy, predicting a slow and uneven recovery following a series of major shocks.
Speaking after the G20 summit in Delhi, Kristalina Georgieva offered a sobering outlook, noting that countries were gradually healing but still facing significant challenges.
The economies have been severely impacted by disruptions in global supply chains caused by the pandemic and the ongoing conflict in Ukraine, which has led to inflation.
However, some countries are faring better than others in their recovery efforts. Georgieva stated, “The recovery is slow and uneven, with medium-term growth prospects being the weakest in decades.”
She further added, “The risk of further divergence is a real concern, with wealthier countries demonstrating more resilience.”
Georgieva emphasized the importance of fulfilling the unmet promise of providing £80 billion per year to support developing nations in combating climate change.
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