IMF Managing Director Kristalina Georgieva has called on both wealthy and poor countries to accelerate measures to reduce debt and address rising inequality. The appeal comes as the global economy faces multiple pressures simultaneously, from the rise of artificial intelligence (AI), high debt levels, and the impacts of wars in the Middle East and Ukraine.
Speaking in Singapore ahead of the autumn meetings of the IMF and the World Bank, Kristalina Georgieva said the world's economic policymakers are facing some difficult decisions and can no longer delay taking necessary action. She stressed that countries already have the policy tools to address the problems and should use them effectively and in a timely manner.
The meeting, to be held in Bangkok, will be attended by finance ministers and central bank governors from the IMF's 191 member countries. The meeting will focus on assessing the state of the global economy and discussing strategies that can help strengthen financial stability and promote sustainable economic growth.
