IMF chief sees 'exceptionally uncertain' global outlook,
(VOVWORLD) - IMF chief Kristalina Georgieva on Saturday warned officials from the Group of 20 major economies to take urgent action to combat inflation, warning that the "exceptionally uncertain" global economic outlook could turn worse if higher prices persisted.
 IMF Managing Director Kristalina Georgieva speaks at a conference in Glasgow, Scotland. (Photo: AFP/VNA) |
Georgieva, speaking at a G20 finance officials meeting in Indonesia, said Russia's conflict with Ukraine had increased pressure on commodity and energy prices, and global financial conditions were tightening more than expected.
At the same time, pandemic-related disruptions and renewed supply chain bottlenecks continued to weigh on economic activity. Accordingly, more than 30% of emerging and developing economies, and 60% of low-income countries, are at or near the risk of default.