(MENAFN) During a session at the World Economic Forum held in Saudi Arabia, Kristalina Georgieva, Director of the International Monetary Fund (IMF), emphasized the importance of distributing the benefits of global economic growth to all countries. Georgieva highlighted the significant disparities in economic performance among nations, stressing that around 800 million people worldwide are currently grappling with famine. She lamented the failure of the world to adequately share the advantages of growth with the regions most in need.
Georgieva underscored the resilience of the global economy in navigating crises amidst repeated shocks, attributing this resilience to responsible public financial management and efforts to foster conditions conducive to private sector growth. However, she noted two prevailing challenges facing the world economy. Firstly, Georgieva pointed out the relatively weak global economic growth compared to historical standards, despite a growth rate of 3.2 percent recorded last year. Secondly, she highlighted the profound economic disparities between countries, with some achieving robust growth while others lag behind significantly.
Georgieva emphasized the urgency of addressing these challenges, cautioning that failure to find solutions could lead to considerable difficulties in the future. The remarks from the IMF Director reflect a call for concerted efforts to promote inclusive and sustainable economic growth, ensuring that the benefits of prosperity are shared more equitably among nations.
MENAFN29042024000045015682ID1108150079
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.