Pessimistic IMF chief predicts slow, uneven recovery
- Kristalina Georgieva offers a sobering perspective
- Economies have been hit by supply chain crises and the Ukraine war
- Some do better than others when it comes to defending themselves.
Slow progress: Kristalina Georgieva
The head of the International Monetary Fund warned yesterday of a “slow and uneven” recovery of the global economy after “a series of major shocks.”
Speaking after the G20 summit in Delhi, Kristalina Georgieva said countries were “gradually recovering” but offered a sobering outlook.
Economies have been hit by shocks to supply chains caused by the pandemic and the Ukraine war, which triggered inflation.
But some are doing better than others at fighting back. He said: “The recovery is slow and uneven, and medium-term growth prospects are the weakest in decades.”
He added: “The risk of further divergence is real, as richer countries are more resilient.”
Georgieva urged them to make good on an unfulfilled promise of £80bn a year to help developing nations with climate change.
