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The World Bank and the International Monetary Fund (IMF) Spring Meetings are being held in Washington, D.C., this week. On the 18th, IMF Managing Director Georgieva interpreted some of the data in the previously released World Economic Outlook report at a press conference.
In its latest report, the IMF revised up global growth slightly to 3.2% this year. Georgieva said the world economy has shown surprisingly resilient conditions, but there are still many issues to worry about, including stubborn inflation and rising levels of government debt. At the same time, she also mentioned that the world economy is still weak based on historical data.
IMF Managing Director Georgieva: The medium-term growth outlook for the global economy is about 3%, the lowest level in decades, which is affected by a general slowdown in productivity. The gap between countries is widening, and poorer countries are falling further behind.
One reason for the slow global economic growth, Georgieva said, is that countries have yet to find the most effective way to match workers with technology. In Europe, for example, the power of innovation has not been fully unleashed. She also gave some suggestions for improving economic growth.
IMF Managing Director Georgieva: Some basic reforms, strengthening governance, reducing red tape, increasing women's participation in the labor market, and improving access to finance...... These are all necessary for growth.
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Editor: Wang Yifan