IMF chief sees ‘exceptionally uncertain’ global outlook, deteriorating debt situation
NUSA DUA, Indonesia (Reuters) – IMF chief Kristalina Georgieva on Saturday warned officers from the Group of 20 main economies to take pressing motion to fight inflation, warning that the “exceptionally unsure” international financial outlook may flip worse if larger costs endured.
Georgieva, talking at a G20 finance officers assembly in Indonesia, mentioned Russia’s intensifying battle in Ukraine had elevated strain on commodity and power costs, and international monetary situations have been tightening greater than anticipated.
On the identical time, pandemic-related disruptions and renewed provide chain bottlenecks continued to weigh on financial exercise.
Stress was mounting on heavily-indebted international locations, and the debt scenario was “deteriorating quick,” she mentioned, in line with a textual content of her remarks.
(Reporting by Andrea Shalal. Modifying by Jane Merriman)
