IMF Managing Director: "Global Financial Stability Risks Increasing... World Growth Rate to Fall Below 3%"

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), stated on the 26th, "The risks to global financial stability have increased, and this year will be a challenging one."

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF)
[Photo by Yonhap News]

According to major foreign media, Managing Director Georgieva said at the China Development Forum held in Beijing that "advanced countries have eased market tensions caused by the collapse of small and medium-sized banks originating in the US, but the risks to financial stability have increased."

She also forecasted that due to the aftermath of the COVID-19 pandemic, the Ukraine war, and monetary tightening policies, the global economic growth rate this year will fall below 3%, making it a difficult year.

Earlier, the IMF's economic growth forecast for this year, announced in January, was 2.9%.

Managing Director Georgieva said, "We are continuously monitoring the situation closely and assessing the potential impacts on the global economic outlook and financial stability," adding, "We are paying particular attention to the economic conditions of low-income countries with high debt levels."

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