IMF chief says the global economy has shown resilience in the face of COVID, war and high rates
1 year, 2 months ago

IMF chief says the global economy has shown resilience in the face of COVID, war and high rates

Associated Press  

WASHINGTON — 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. Weighing on global growth is China’s disappointing recovery despite the lifting late last year of draconian zero-COVID policies, which had crippled commerce in the world’s second-biggest economy last year. She said the odds are rising that global economy can manage a “soft landing’’ — avoiding recession even while bringing down inflationary pressure.

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