IMF chief says world economy faces long ascent from Covid crisis

Kristalina Georgieva warns against premature withdrawal of government measures

The head of the International Monetary Fund has said the recovery in the global economy since the spring is fragile and warned Rishi Sunak and his fellow policymakers against an over-hasty withdrawal of support.

In a speech intended as a curtain raiser for next week’s annual meeting of the Washington-based organisation, Kristalina Georgieva said the unprecedented action taken by central banks and finance ministries had been a key factor in softening the impact of the Covid-19 pandemic.

Continue reading…