International Monetary Fund (IMF) Managing Director Kristalina Georgieva said today that high prices are likely to continue and are contributing to global economic challenges such as low growth and high debt. In her speech at the Bretton Woods conference, Georgieva highlighted the continued unrest caused by inflation, noting that it was causing widespread discontent.
Regarding the current global economic outlook, he commented that while the overall performance is reasonable, fundamental concerns remain. Of particular concern is trade growth, which is slightly below global growth, he said.
The IMF is scheduled to release its latest global growth forecasts on Tuesday, and although Georgieva did not provide specific numbers in her speech, she said growth is expected to exceed 3%. Current IMF projections for global real gross domestic product (GDP) growth are 3.2% by 2024 and 3.3% by 2025.
Ms. Georgieva also addressed the impact of climate risks on the economic outlook, saying that climate risks are detrimental to some countries. However, he did not elaborate on which countries would be most affected or the scope of the economic impact.
The annual meetings of the IMF and World Bank, which opened today, are expected to draw more than 10,000 participants from various ministries of finance, central banks, and civil society organizations. The conference agenda includes discussions on how to improve inconsistent global economic growth, manage the debt problem, and finance the transition to green energy.
Reuters contributed to this article.
This article was generated and translated with the help of AI and reviewed by an editor. Please see our Terms of Use for more information.
