2023-10-12 08:00:00
The managing director of the International Monetary Fund (IMF), Kristalina Georgievaaffirms that the possibilities of a “soft landing” of the world economy have increased, although he has warned that the economic recovery after the pandemic and the war in Ukraine is being “slow and uneven.”
The Bulgarian economist explained from Abijdan (Ivory Coast) that the economy has shown “remarkable resilience” during the first half of the year thanks to a stronger-than-expected demand for services and “tangible” progress in the fight against inflation.
However, Georgieva recalled that “we must not let our guard down”, since the recovery after Covid-19 and the war in Ukraine is being “slow and uneven” and growth prospects are “well below” the historical average of 3.8% of the two decades prior to the pandemic.
In this sense, it has quantified the gap in economic activity since 2020 with respect to a scenario in which the Covid, the inflation and the Russian invasion would not have occurred in the 3.7 trillion dollars (3.51 trillion euros).
Furthermore, Georgieva has shown that only the United States will exceed in 2023 the gross domestic product (GDP) forecasts that had been made before the coronavirus for this same year.
Afterwards, the advanced economies and the euro zone will lag somewhat further behind, but less than the world average, while China, emerging countries and Africa have been, in that order, more affected. Low-income countries have achieved a growth differential of more than 6 points of GDP.
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