regional banks and the forced sale of global lender Credit Suisse, she said. The IMF on Tuesday warned that a major new flare-up of banking system turmoil that chokes off lending and sparks a rush into safe-haven assets could slam global growth back to 1%, throwing many economies into recession and putting major stresses on emerging market economies.Īfter recovering from the COVID-19 pandemic and suffering setbacks from high inflation and spillovers from the war in Ukraine, policymakers have two major tasks in the near term - fighting persistent inflation and safeguarding financial stability, Georgieva said.īoth have become more complex due to banking pressures from the failures of two U.S. The IMF's projection of 2.8% global growth for 2023 "is not enough to bring opportunities to businesses and people around the world, and most worrisome is the projection for weak growth over a longer period of time," Georgieva told a news conference at the IMF and World Bank spring meetings in Washington. WASHINGTON, April 13 (Reuters) - International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that the global economy has proven remarkably resilient to multiple shocks, but has yet to overcome a combination of weak growth and sticky inflation.
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