International Monetary Fund chief Kristalina Georgieva spoke over the weekend at the China Development Forum.
It was a wide-ranging speech (full text is here)
Some of her main points:
- risks to financial stability have increased
- called for continued vigilance
- said the actions taken so far by advanced economies have calmed market stress
- 2023 would be another challenging year, global growth slowing to 2.9% due to the pandemic, the war in Ukraine, and monetary tightening.
- Will improve in 2024, but still below historic average of 3.8%
- overall outlook remained weak
- said China's strong economic rebound, projected GDP growth of 5.2% in 2023, offered some hope for the world economy
- China expected to account for around one third of global growth in 2023
