The global economy is going through a “synchronised slowdown”, claimed the new managing director of the IMF, Kristalina Georgieva, during her inauguration speech.
“In two years time the world has moved from synchronised upswing — in other words accelerating growth — to a synchronised slowdown, decelerating growth, and our forecast for this year and next year demonstrates that this slowdown is already impacting the vast majority of the world,” Georgieva maintained.
Kristalina Georgieva asserted that aside from trade tensions, protectionism and Brexit — the world should be paying more attention to changing climate.
“If I have to single out what we should pay attention to, it is the risk of the changing climate,” she said. “We have seen how economies can be dramatically impacted by the force of nature and we have to brace for more of those shocks to occur.”