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The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva

Kristalina Ivanova Georgieva was born on August 13, 1953 in Sofia. Her high school education predicts to CNBC that her institution will soon give more optimistic assessments of global economic growth. 

"At the moment I don't see a decrease, but growth will slow down in 2023," said Georgieva in an interview with the media during the World Economic Forum in Davos.

"Our projections are that (economic growth - ed.) will decline by half a percentage point from 2022. The good news is that we expect growth to bottom out in 2023 and 2024 will be the year in which we will finally see an upward trend in the world economy", notes the managing director of the IMF.

The International Monetary Fund has cut its forecast for global economic growth three times since October 2021.

Georgieva believes that central banks are not done raising interest rates as inflation is slowing but still remains "too high".

Last week, data showed that inflation in the United States reached its lowest level since October 2021. In the Eurozone, it decreased for the second month in a row in December, notes CBS, quoted by BTA. 

Kristalina Georgieva: A difficult year is ahead for the world economy, Europe will become independent from Russia

On China, the IMF managing director reiterated the fund's forecast that the Asian country's gross domestic product (GDP) will rise but will not make up as significant a part of global economic growth as it has in the past.

"China's economic growth will not return to the times when the country accounted for about 40 percent of global growth. This will not happen," emphasizes Kristalina Georgieva

Kristalina Ivanova Georgieva was born on August 13, 1953 in Sofia. She has a secondary education.

If China does not change its policy of loosening measures against the spread of COVID-19, the Chinese economy will grow by 4.4 percent by the end of the year, in line with IMF forecasts, adds the managing director of the Fund. 

Kristalina Georgieva

International Monetary Fund

Economic Growth

IMF