March 26, 2023 11:51 AM

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IMF Chief urges action as global recession risks rise

<span style="color: #222222;">International Monetary Fund Chief Kristalina Georgieva said yesterday that risks to global financial stability have increased and urged continuous vigilance.<br />''<br />''The managing director of the IMF said that 2023 would be another difficult year, with global growth slowing to below three percent as a result of the pandemic's residual effects, the conflict in Ukraine and monetary tightening.  <br />''<br />''She stated at the China Development Forum that even with a more optimistic outlook for 2024, global growth will still be much below the historical average of 3.8 Percent and the overall outlook will remain poor.<br />''<br />''She added, policymakers in advanced economies had responded decisively to financial stability risks in the wake of bank collapses but even so vigilance was needed.</span><br />

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