Kristalina Georgieva Calls for Fight Against Inflation

Kristalina Georgieva, President of the International Monetary Fund (IMF), called for a fight against inflation. President Georgieva called on G20 countries to take urgent measures to combat inflation, as the global economic outlook could deteriorate further if inflation becomes persistent.

IMF President Georgieva made a speech on the economic outlook at the G20 Finance Ministers and Central Bank Governors Meeting. Stating that the global economic outlook is not bright, President Georgieva said, "The outlook has darkened considerably and uncertainty is extremely high. The downside risks that the IMF had previously warned about have now become a reality." Kristalina Georgieva underlined that the authorities should take urgent measures to fight inflation. She added that the war over Russia's invasion of Ukraine has intensified, putting additional pressures on commodity and food prices. Noting that downside risks will continue and may deepen, the IMF chief said that if inflation becomes more persistent, it could potentially affect growth. He noted that the effects will be felt more strongly, especially in emerging and developing countries, and will require stable policy interventions.

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