IMF secretary general warns world will be a very different place after crisis like Covid

  • As we live in a “more shock-sensitive world” affected by the Covid-19 pandemic, Russia’s invasion of Ukraine and the recent earthquakes that have affected Turkey and Syria, the IMF’s managing director said, He warned us that we must think of the unthinkable.
  • “We are very concerned [about] Unexpected, ”Georgieva said.
  • According to forecasts by financial institutions, the global economy will grow by 2.9% this year.

‘Think the unthinkable’: IMF chief warns the world will be a very different place after a crisis like Covid.

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The IMF’s managing director warned that we live in a “more shockable world” and that we must “think the unthinkable”. COVID-19 PandemicRussian Invasion of Ukraine and recent Massive earthquakes in Syria and Turkey.

Kristalina Georgieva said on Tuesday at a panel at the World Government Summit hosted by CNBC’s Hadley Gamble, “We all need to be more agile and more flexible towards building resilience at every level. You have to change your mindset so that you can handle the shock so you can handle it better,” he said.

“We are very concerned [about] Unexpected, ”Georgieva said.

The IMF Secretary General laid out the need for resilience for our planet, for societies that must recognize equal opportunities, for education, health and people who must benefit from good social protection.

“We are not in a place to be good stewards of the planet for our children,” Georgieva added.

In a previous interview with CNBC, Georgieva said more private investment is needed. needed to help developing countriess achieves climate change targets that cannot be fully covered by public support or local government funding.

Ukrainians ‘fight for the right of all nations to exist’

On the topic of Russia’s invasion of Ukraine, Georgieva said the world had lost a “very valuable peace dividend” and urged countries to spend more on defense and less on domestic problems such as health care and infrastructure. .

“We can no longer take peace for granted,” she said.

Georgieva praised the international reaction to the war as “hugely remarkable” and highlighted the global impact of the conflict.

“Everyone got some sympathy for the issue that today it is a problem for Ukraine but tomorrow it could be a problem for many other countries. It could be invaded by a more powerful neighbor. ” said Georgieva.

“The Ukrainian people strongly believe that they are not fighting only for themselves, but that every country exists and fights for the right to solve its own problems,” she added. .

Georgieva said the IMF had to play a “stabilizing role” in the war in Ukraine and that the country needed between $40 billion and $48 billion to function this year.

The IMF chief has previously called an invasion of Ukraine a “The single most important negative factor“For the economy of 2022.

The global economy is expected to grow 2.9% this year, according to the OECD. FSA forecast.

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