<\/p>\n
International Monetary Fund Managing Director Kristalina Georgieva said that after facing crisis upon crisis in recent years, the world needs to build foundations that can withstand shocks that have become more frequent.<\/p>\n
\u201cI am worried that we are not completely internalising yet that this is how the world is going to be,\u201d Georgieva said on Bloomberg\u2019s podcast Leaders with <\/em>Francine Lacqua<\/em>. \u201cWe are not going to get to a place where shocks are gone.\u201d<\/p>\n Georgieva, who\u2019s been at the helm of the Washington-based lender since 2019, has been through the Covid pandemic, the war in Ukraine, the tariffs turmoil and now the conflict in the Middle East. The IMF has a lending capacity of just under $1 trillion dollar and her job \u2014 as she described it \u2014 is keeping the fund\u2019s 191 members focused on working together for the greater good of the world economy.<\/p>\n \u201cThe best ammunition we have is objective analysis,\u201d she said.<\/p>\n ADVERTISEMENT<\/p>\n CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n One major transformation underway is the spread of artificial intelligence and its impact on labor markets and local economies. Georgieva said organisations including hers failed to recognize inequalities arising from globalisation and she wants to make sure it won\u2019t happen with AI.<\/p>\n \u201cWe collectively, including the fund, did not appreciate the backlash against globalization that came from the fact that, yes, the world economy is doing better as a whole, but many communities were hollowed out because their jobs disappeared and there was not enough attention to them,\u201d she said. \u201cI\u2019ll tell you what I\u2019m very keen not to see repeated is the same with artificial intelligence.\u201d<\/p>\n The fund will update its outlook for the global economy in July, after downgrading its growth projection for the year in April amid the war in the Middle East. The lender also performs annual economic revisions of member countries, among other reports under its surveillance mandate.<\/p>\n In 2024, two years after Russia invaded Ukraine, the IMF announced it would restart its annual review of Russia\u2019s economy \u2014 the so-called Article IV \u2014 for the first time since the start of the war.<\/p>\n The plan was met with backlash from several European Union countries, which challenged Georgieva over the decision. They said engaging Russia on economic issues would legitimize Kremlin efforts to evade sanctions.<\/p>\n ADVERTISEMENT:<\/p>\n CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n \u201cIt was a very tricky moment because bombing was going in both directions. We decided to delay,\u201d she said. \u201cWe need to collect data on trade, import, and export. Russia was very reluctant to provide this data.\u201d<\/p>\n She added that \u201cat some point we will have the regular assessment restarted,\u201d without providing details on timing.<\/p>\n The fund has been supporting Kyiv with financing tied to key reforms since Russia\u2019s invasion, with two programs for $15.6 billion in 2023 and $8.1 billion this year.<\/p>\n \u00a9 2026 Bloomberg<\/p>\n<\/p><\/div>\n #IMF #chief #warns #world #isnt #ready #shocks #piling<\/p>\n","protected":false},"excerpt":{"rendered":" International Monetary Fund Managing Director Kristalina Georgieva said that after facing crisis upon crisis in recent years, the world needs to build foundations that can withstand shocks that have become… <\/p>\n","protected":false},"author":1,"featured_media":6214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1244,8665,868,8666,2261,2344,583,51],"class_list":["post-6213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-chief","tag-imf","tag-isnt","tag-piling","tag-ready","tag-shocks","tag-warns","tag-world"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/6213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6213"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/6213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/6214"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Russia assessment<\/span><\/h3>\n