In a recent press conference held by the International Monetary Fund (IMF) with the participation of Nadia Calvino and Kristalina Georgieva, several key priorities and achievements were discussed, highlighting the economic challenges and uncertainties faced by the global community.
Nadia Calvino noted that while the economy had shown unexpected resilience since the previous meeting, escalating geopolitical tensions, such as Russia's war against Ukraine and the war between Palestine and Israel, have introduced significant uncertainties. Despite challenges in reaching a communique, there was a unanimous commitment to the IMF's mission, multilateralism, and addressing common global challenges.
In the midst of global challenges, Kristalina Georgieva expressed commitment to strengthening the global financial safety net through cooperation and collaboration. While acknowledging the difficulties faced in the past two years, she noted that progress had been made in various areas, including the creation of the Resilience and Sustainability Trust, debt relief efforts, and quota review.
The recent tragic events in Israel were also mentioned, as they added further uncertainty to the global economy, impacting oil prices and financial markets. The extent of this impact depends on the duration and extent of the situation, and there is a collective hope for a swift return to peace and stability for those affected and for the global economy.
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Kristalina Georgieva also expressed gratitude to King Mohammed VI for granting the opportunity to attend the opening of the Moroccan Parliament and hear the King's speech on a new social policy aligned with previous discussions. This policy aims to provide targeted social support to build skills, protect vulnerable individuals, and foster unity. International representatives present at the audience with the King expressed their gratitude for Morocco's generosity, hospitality, and solidarity during challenging times.
As the IMFC Chair's term comes to an end, Kristalina Georgieva acknowledged the global challenges faced in the past two years and the progress made in the midst of these challenges. She emphasized the importance of building resilience policies to address shocks and achieve long-term objectives in an increasingly unpredictable world. Thailand is set to host the next IMF meetings, and the conference expressed anticipation for the dynamism and contributions of Asia to the global economy.
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