International Monetary Fund (IMF) chief Georgieva warned on the 6th that the global economy is facing a multi-year growth slowdown.
[Compile Wei Guojin/Comprehensive Report] International Monetary Fund (IMF) President Georgieva warned on the 6th that the global economy is facing a situation of multi-year growth slowdown. The annual average is three.
The 8% annual growth rate is also the weakest medium-term growth forecast since 1990, while the global gross domestic product (GDP) is expected to grow by less than 3% this year, which is the same as the 2.0% forecast in January.
Nine percent are the same.
Georgieva pointed out in her speech on the eve of the spring meeting of the World Bank and the IMF next week that "with geopolitical tensions and high inflation, a strong recovery is still far away." About 90 percent of advanced economies are expected to experience slower growth this year, slowing their economic activity.
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Georgieva: Ukrainian-Russian War Erases 30 Years of Peace Dividend
She pointed out that the main obstacles to global growth are increasing economic fragmentation and geopolitical tensions, while Russia's invasion of Ukraine, "is not only a catastrophe that kills innocent people, it also exacerbates the cost of living crisis, starves more people around the world, and may Erase the peace dividend we have enjoyed for the past three decades and increase trade and financial friction."
She said that although some emerging markets are growing strongly, especially in Asia, India and China are expected to account for half of the global expansion, but low-income countries are still lower than other emerging economies due to weak export demand, and poverty and famine may further increase .
But Georgieva believes that after the recent banking crisis in the United States and Switzerland, as long as the pressure on financial stability is under control, she supports central banks to maintain the pace of interest rate hikes, because inflation remains high, and hitting inflation is the key to medium-term economic growth key foundation.
She said the failures of Silicon Valley Bank and Credit Suisse exposed risk management failures and regulatory failures at specific banks, but policymakers acted quickly and comprehensively; the central bank should provide more liquidity to banks with financing difficulties, and may have to cut interest rates if the turmoil worsens At that time, the central bank will face a difficult trade-off between the goal of combating inflation and maintaining financial stability.
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