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The war in Ukraine, the IMF raises the 'red' alarm: We are facing ...
Written by SOT.COM.AL 23 Maj 2022
The global economy is facing perhaps "the biggest test since World War II.
This was stated by the head of the IMF, Kristalina Georgieva, as the World Economic Forum starts today in Davos.
"The Russian occupation is destroying human lives, dragging out growth and driving up inflation," she said, urging countries not to give in to the forces of geo-economic fragmentation that will make our world poorer and more dangerous.
Georgieva has stepped up her efforts to give Ukrainians hope for a future if the war is won, with a $ 1 billion reconstruction aid package funded by the seizure of frozen Russian assets. The IMF therefore calls on countries to prioritize four measures to restore global confidence: reducing trade barriers, promoting debt relief for vulnerable countries, modernizing cross-border payment systems, and addressing green energy transformation.