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IMF MD Georgieva warned of risks to financial stability, but actions so far calmed markets | Forexlive

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