IMF chief says the global economy has shown resilience in the face of COVID, war and high rates
BNN Bloomberg
The global economy has shown “remarkable resilience’’ but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates, the head of the International Monetary Fund said Thursday.
“While the recovery from the shocks of the past few years continues, it is slow and it is uneven,’’ IMF Managing Director Kristalina Georgieva said in a speech in Abidjan, Ivory Coast, ahead of next week’s fall meetings of the IMF and the World Bank.
Global economic growth is likely to remain well below the 3.8 per cent average of the past two decades and the world has lost US$3.7 trillion in economic output from successive shocks since 2020, Georgieva said. The IMF releases its official growth forecasts Tuesday.
The United States, she said, “is the only major economy where output has returned to its pre-pandemic path. The rest of the world is still below trend.’’
