Kristalina Georgieva, Director of the International Monetary Fund FM
IMF: we are facing the greatest challenge since the Second World War
The global economy is facing perhaps the “greatest test since World War II“The number one of the IMF said so Kristalina Georgievaas it starts today at Davos the World Economic Forum. The Russian invasion is “devastating human livesdragging down growth and driving up inflation, “he recalled, urging i Villages not to “surrender to the forces of geo-economic fragmentation that will make our world poorer and more dangerous”. The warning of the Georgieva came as Ukraine stepped up the attempt to give to its citizens the hope of a futureif the war is won, with a reconstruction aid package from 1 billion dollars, financed by the confiscation of frozen Russian assets. The IMF then invites the States to give priority to four measures to restore the global trust: reduce trade barriers, promote debt cancellation for i Vulnerable countriesmodernize cross-border payment systems and address transformation into green energy.
IMF: 30 countries have reduced food supplies
According to Fundso far with the war in Ukraine 30 Countries they have limited trade in food, energy and raw materials, warning of the enormous costs that this disintegration would entail for states. Technological fragmentation alone would lead to decreases in 5% of GDP for some countriesaccording to the estimates of the Fundwho cited the trade tensions of the 2019which led to a decline in the Global GDP of nearly 1%.
According to the establishment of Washingtonover the past three decades, cooperation has lifted out of extreme poverty 1.3 billion people. To restore this global confidence, the IMF makes it a priority to strengthen international trade to increase resilienceso as to reduce the barriers to alleviate the shortage of products and lower the prices of foodstuffs. In his opinion, not only countries but also companies must protect the chains supplying. Second, it proposes debt restructuring agreements for the Villages more vulnerablewhich would also have a positive impact on creditors.
IMF: we must continue to fight against climate change
On the other hand, theIMF proposes to modernize cross-border payment systemstaking into account that the international average cost of transfers is 6.3%which means, according to its data, that 45 billion dollars a year runs out in the hands of intermediaries. Finally, he raised another priority, the most relevant of all, namely the fight against climate change and the urgent need to accelerate the energy transition.
The IMF acknowledges that there is no magic formula to restore global confidence, but adds that if the parties show interest in addressing the most pressing common needs, a stronger and more inclusive economy can be built. The IMF recalled that the advantagesThe efforts of joint action were evident during the pandemic, when governments took coordinated fiscal and monetary action to avoid another great depression and to develop vaccines in record time.
Read also:
Election poll, does Letta work the miracle? The Democratic Party still loses. The results
Pd, Misiani: “The absolute priority is to respect the pact with the EU”
Berlusconi shiny on Ukraine and Russia. A true Western leader
He runs away with the refugee, his wife speaks. “She wanted my husband and she took him”
Giletti: “Moretti loves me (she denounces him). Floris a man of power like Vespa”
Carlos Alcarez aims for Roland-Garros. The 19-year-old climbs world tennis
AC Milan Scudetto. Pioli is worth Conte. Leao looks like Mbappè. Maignan from 10. REPORT CARDS
Ukraine, Letta: “Peace is not achieved by kneeling before Putin”. VIDEO
CDP, conducted analysis on Italian energy security
Air France-KLM, signed 10-year strategic commercial partnership
Subscribe to the newsletter
