The International Monetary Fund boss yesterday warned of a ‘slow and uneven’ recovery for the global economy after ‘a string of major shocks’. Speaking after the G20 summit in Delhi, Kristalina Georgieva said countries were ‘gradually healing’ but offered a sobering outlook.
Economies have been hit by supply chain shocks caused by the pandemic and the Ukraine war, which triggered inflation. But some are doing better than others at fighting back. She said: ‘The recovery is slow and uneven, with medium-term growth prospects the weakest in decades.’ She added: ‘The risk of further divergence is real, with richer countries being more resilient.’
Georgieva emphasized the importance of fulfilling the unmet promise of providing £80 billion per year to support developing nations in combating climate change.
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