The managing director of the IMF sent a warning

By RockedBuzz 1 Min Read

We expect 2023 to be another challenging year, with global growth slowing below 3 percent as the wounds from the pandemic, the war in Ukraine and monetary tightening weigh on economic activity

Georgieva said at a Chinese conference on Sunday.

“Even with better prospects for 2024, global growth remains below the historical average of 3.8 percent,” he added.

Policymakers have responded decisively to threats to financial stability, which has helped alleviate market stress to some extent, he said.

Georgieva warned that the world could split into rival economic blocs, leading to “dangerous divisions”.

Cover image: Kyodo News/Getty Images

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