The director of the International Monetary Fund (IMF), Kristalina Georgieva, emphasized the importance of poor countries playing their part in order to receive economic support from rich nations. This includes measures such as debt restructuring, improving financial management, and demonstrating commitment to their citizens. Georgieva stated these remarks during a panel at the World Economic Forum’s special meeting in Riyadh, Saudi Arabia.
She called for rich countries to provide a substantial amount of international aid for debt restructuring if poor countries fulfill their obligations. Georgieva highlighted the interconnectedness of the global economy, stating that all countries are in this together and must work collectively to prevent economic collapse. She also mentioned that some countries, like the United States and China, have shown strong economic growth which has contributed to a positive global growth projection of 3.2% for 2024.
Georgieva emphasized the need for countries to focus on reducing inflation, building fiscal reserves, and promoting economic cooperation to enhance growth prospects. She underscored the importance of unity in the global economy and the risks of fragmentation.
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