IMF Chief Urges Global Cooperation for Economic Resilience

COLOMBO (News 1st); Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), emphasized the importance of reforms and rebalancing across various regions, including ASEAN, the Gulf Cooperation Council, and the African continent. 

She highlighted the efforts of policymakers to strengthen their economies, improve regional ties, and address surpluses and deficits, expressing strong support for these initiatives.

Georgieva identified the most pressing priority as ensuring cooperation in a multi-polar world. 

She stressed the need for trade policies that secure settlements among major players, preserve openness, and create a more level playing field. This includes restarting the global trend toward lower tariff rates and reducing non-tariff barriers and distortions.

She underscored the necessity of a more resilient world economy, advocating against division and emphasizing policies that allow private economic agents time to adjust. 

Georgieva highlighted the importance of distributional policies as a bridge between good economics and good politics, ensuring that those adversely affected by economic changes are cushioned.

Looking ahead to the IMF Spring Meetings, Georgieva expressed optimism that the gathering of 191 member countries would provide a vital forum for dialogue at a crucial time. She called on all countries, regardless of size, to contribute to strengthening the global economy in an era of frequent and severe shocks.

Georgieva concluded her address by noting that challenges present opportunities. She encouraged a focus on building a new, better-balanced, and more resilient world economy, rather than preserving the old. With determination and clear vision, she believes that times of change can lead to renewal.