Kristalina Georgieva

IMF's Georgieva warns of global economic concerns including inflation, debt

She said countries could help their economies by slashing bureaucratic red tape and getting more women into the job market

IMF Chief Kristalina Georgieva wins second term ahead of Spring meetings

Georgieva, 70, led IMF's efforts to aid indebted countries through pandemic and has warned about the global economic impact of trade fragmentation caused by worsening US-China relations

Global economy to see soft landing, rate cuts coming, says IMF's Georgieva

She cautioned to expect the unexpected in the wake of the COVID-19 pandemic and said a prolonged war between Israel and Hamas would impact global economies

Confident on global economic outlook despite uncertainties: IMF's Georgieva

'While uncertainties are still high, we can be a bit more confident about the economic outlook, because the global economy has been surprisingly resilient,' she said in the speech

Expect Pak's new govt to take deep structural problems seriously: IMF MD

IMF Managing Director Kristalina Georgieva has said that she expects the new government in Pakistan to take seriously solving its "very deep structural problems" and help the cash-strapped country to reach its potential. Her remarks came days after the International Monetary Fund (IMF) in its World Economic Outlook lowered Pakistan's economic growth forecast to two per cent for the current fiscal year, down 0.5 percentage points from its October estimate of 2.5 per cent. Pakistan, currently facing an economic crisis, is set to hold its general elections on February 8. A caretaker government currently runs the cash-strapped country. What we expect is a government that would take seriously solving the very deep structural problems of Pakistan, Georgieva told reporters during a media round table here. We see the problem we have with this caretaker government. They have done a good job of moving in the right direction. But of course, the problems of Pakistan are not solved. So more nee

Success of India grounded in pursuit of reforms over last years: IMF MD

The economic success of India is grounded in the pursuit of reforms over the last years, Managing Director of International Monetary Fund (IMF) Kristalina Georgieva said Thursday exuding confidence that it would achieve its goal of being a developed nation by 2047 by staying the course. "India has been a bright spot in the world economy, and it continues to be so. We are upgrading projections for Indian growth to 6.5 per cent in 2024. This comes on the back of fairly strong performance in 2023. The success of India is grounded in the pursuit of reforms over the last years," Georgieva told a group of reporters here. Georgieva said that one very significant advantages of India is the bold actions on the digital front with the digital public infrastructure, digital ID and making digital a strong comparative strength of India allowing small entrepreneurs to tap into markets in the way they were not able to do before. "We also see in India recognition that female participation in the ...

Interest rates likely to fall but last mile very tricky: IMF Chief

IMF Chief Kristalina Georgieva on Thursday said interest rates should keep falling in 2024 but cautioned that there is no room for any policy error as the last mile is "very, very tricky". In an interview with the World Economic Forum here during its Annual Meeting 2024, she said that the central banks should not tighten prematurely because then they may lose the victory that is now in their hands. Expecting the positive trend to continue in 2024, she said, "The inflation rate is going down, on average." The International Monetary Fund's Managing Director, however, flagged the regional discrepancies still persisting around. "What we have now is a very diverse range. In some countries, the job is already done, and inflation is low enough for them to have an accommodative monetary policy. Brazil is one example. And in Asia, many countries did not have an inflation problem to start with," she said. "Central banks should not tighten prematurely because then they may lose the victory th

Crypto adoption high in India, says IMF chief Kristalina Georgieva

Says adequate legal frameworks needed

IMF, World Bank pledge Africa focus at 1st meetings on continent in 50 yrs

In the shadow of a deadly earthquake in Morocco that caused nearly $12 billion in damage, the world's most powerful economic policymakers said they would focus on Africa as they work to grow and stabilising the global economy during times of war, inequality and climate change. The International Monetary Fund and World Bank are holding their annual meetings in Africa for the first time in 50 years as they face a growing chorus of criticism that poorer nations are underrepresented at the two institutions. Both have recently said they plan to give Africa additional seats on their executive boards. The conference theme was clear Monday during the gathering in Marrakech, although definitive details had yet to be discussed. We're here, Africa, IMF Managing Director Kristalina Georgieva said on a panel with African entrepreneurs. Often lenders of last resort, the IMF and the World Bank use billions in loans and assistance to buoy struggling economies and encourage countries operating in ..

Countries need to pursue growth-oriented structural reforms: IMF MD at G20

IMF Managing Director Kristalina Georgieva on Sunday said global recovery is slow and uneven and underscored the need to pursue sound policies for financial stability and growth-oriented structural reforms. Speaking at G20 Leaders' Summit here, Georgieva said, G20 members must lead by example in delivering on the promises of USD 100 billion per year for climate finance, supported by strengthening Multilateral Development Banks(MDBs). The International Monetary Fund (IMF) has secured over USD 40 billion to support vulnerable countries through its Resilience and Sustainability Trust (RST) to build climate resilience, she said. Countries also need to mobilize domestic resources to finance and manage the green transition through tax reforms, effective and efficient public spending, strong fiscal institutions, and deep local debt markets, she said. Observing that global recovery from the COVID-19 pandemic is slow and uneven, she said, all countries should pursue sound policies to suppo

Pak PM Sharif asks IMF chief for early release of stalled bailout fund

Pakistan Prime Minister Shehbaz Sharif held a phone call with IMF Managing Director Kristalina Georgieva on Tuesday during which he expressed hope that the global lender would announce a decision on the release of the bailout fund within a day or two. Pakistan's ninth review by the International Monetary Fund under the 2019 Extended Fund Facility (EFF) for the release of a USD 1.2 billion tranche is still pending with fewer than 10 days remaining until the programme's expiry on June 30. Sharif discussed the IMF programme with Georgieva and expressed hope that coordination on the points of the bailout program would lead to a decision from the global lender in a day or two, a statement by the PM Office said. Pakistan signed a USD 6.5 billion package with the Washington-based IMF in 2019. The plan was derailed several times and the full reimbursement is still pending due to insistence by the donor that Pakistan should complete all formalities. The prime minister also reiterated his .

Sitharaman meets IMF chief Georgieva on sidelines of G7 meet in Japan

She is on a two-day visit to Japan. The G7 meeting is taking place in Niigata

Global economy mired in weak growth, sticky inflation: IMF chief Georgieva

IMF's projection of 2.8% global growth for 2023 "is not enough to bring opportunities to businesses and people around the world, and most worrisome is the projection for weak growth over longer period

IMF MD Georgieva praises Ajay Banga's commitment to opportunities for all

IMF Managing Director Kristalina Georgieva on Thursday applauded Indian-American Ajay Banga, who is slated to be the president of the World Bank, for his commitment to inclusion and opportunities for all. In February, Banga was nominated by US President Joe Biden after World Bank President David Malpass announced his decision to leave. The World Bank Board of Directors are likely to announce 63-year-old Banga as the next head of the institution soon. I have known Ajay for quite some time. I think very highly of his leadership skills, but above all of the commitment to inclusion and opportunities he has demonstrated throughout his life, International Monetary Fund Managing Director Georgieva told reporters at a news conference held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. Banga is the only candidate nominated for the World Bank presidency, which has traditionally gone to the United States. We have been talking together on many .

India, China to account for half of global economic growth: IMF chief

The IMF chief on Thursday said that the world economy is expected to grow at less than 3 per cent this year, with India and China expected to account for half of global growth in 2023. International Monetary Fund (IMF) managing director Kristalina Georgieva warned that a sharp slowdown in the world economy last year following the raging pandemic and Russia's military invasion of Ukraine would continue this year. The period of slower economic activity will be prolonged, with the next five years witnessing less than 3 per cent growth, our lowest medium-term growth forecast since 1990, and well below the average of 3.8 per cent from the past two decades," she said. Some momentum comes from emerging economies Asia especially is a bright spot. India and China are expected to account for half of global growth in 2023. But others face a steeper climb, she explained. After a strong recovery in 2021 came the severe shock of Russia's war in Ukraine and its wide-ranging consequences global

Global financial stability at risk from banking turmoil: IMF chief

Adding to a growing chorus of warnings from economic leaders, the IMF chief said it was clear that risks to financial stability had increased after the recent collapse of Silicon Valley Bank

Banning cryptocurrency should be an option: IMF's Kristalina Georgieva

Georgieva also said that there are some disagreements between the nations on the issue of debt restructuring of low and middle income countries

One Earth, One Family, One Future uplifting and mobilizing motto: IMF MD

The 'One Earth, One Family, One Future' motto of G-20 announced by India is very uplifting and mobilizing, IMF Managing Director Kristina Georgieva has said adding that it resonates on a human level with all. "It has chosen a great motto for the presidency that I think resonates on a human level with all of us: One Earth, One Family, One Future. It is the most uplifting, motto of G-20, that I can think of. Very mobilizing for all of us," Georgieva told PTI ahead of her India travel to attend the G-20's financial track meeting in Bengaluru. Unveiled by Prime Minister Narendra Modi last year, the theme of India's G20 Presidency - 'Vasudhaiva Kutumbakam' or 'One Earth One Family One Future' - is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life human, animal, plant, and microorganisms and their interconnectedness on the planet Earth and in the wider universe. It also spotlights LiFE (Lifestyle for Environment), with its .

India can achieve its goal of being carbon neutral much before 2070: IMF MD

India, which has taken it upon itself to be carbon neutral by 2070, could achieve this ambitious goal even earlier, International Monetary Fund Managing Director Kristalina Georgieva has said. Georgieva added that it is so very important that a large country like India plays a leading role in the fight against climate change. She noted that what India has done is "quite admirable" because it is a country that has nearly 1.4 billion people that need access to development opportunities. And therefore, the pressure to expand the use of resources is exceptionally high. Yet India is managing to put in place very ambitious objectives: reduce the emissions intensity of its GDP by 45 per cent by the year 2030, from 2005 level, Georgieva told PTI in an interview as she applauded New Delhi for its programme of using solar as a main source of energy and taking it to the global level through the International Solar Alliance. "And more recently thinking more seriously about innovation, for ...

Debt talks in focus at G20 finance meet: FM Sitharaman tells IMF chief

Indian Finance Minister Nirmala Sitharaman and IMF's Kristalina Georgieva also discussed regulating crypto assets