International Monetary Fund Managing Director Kristalina Georgieva. File
| Photo Credit: Reuters
Risks to financial stability have elevated, International Monetary Fund chief Kristalina Georgieva mentioned in a speech delivered in Beijing on March 26, calling for continued vigilance regardless of strikes by superior economies to calm market stress.
The IMF managing director reiterated her view that 2023 could be one other difficult 12 months, with world progress slowing to beneath 3% due to scarring from the pandemic, the warfare in Ukraine and financial tightening.
Even with a greater outlook for 2024, world progress will stay effectively beneath its historic common of three.8% and the general outlook remained weak, she mentioned on the China Development Forum.
The IMF is slated to launch new forecasts subsequent month.
Ms. Georgieva mentioned policymakers in superior economies had responded decisively to financial stability risks within the wake of financial institution collapses, easing market stress to some extent however continued vigilance was wanted.
“So, we continue to monitor developments closely and are assessing potential implications for the global economic outlook and global financial stability,” she mentioned, including that the IMF was paying shut consideration to probably the most weak international locations, and significantly low-income international locations with excessive ranges of debt.
