In a panel at the World Economic Forum’s special meeting in Riyadh, Saudi Arabia, International Monetary Fund (IMF) Director Kristalina Georgieva emphasized the importance of poor countries playing their part to receive economic support from rich nations. Georgieva called for rich countries to provide substantial international aid for debt restructuring if poor countries fulfill their obligations. She highlighted the interconnectedness of the global economy and urged all countries to work collectively to prevent economic collapse.
Georgieva also mentioned that some countries, such as the United States and China, have shown strong economic growth which has contributed to a positive global growth projection of 3.2% for 2024. To enhance growth prospects, she emphasized the need for countries to focus on reducing inflation, building fiscal reserves, and promoting economic cooperation. Georgieva underscored the importance of unity in the global economy and the risks of fragmentation.
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