Global economic growth may be reaching a turning point, IMF chief says

Global economic growth may be reaching a “turning point”, supported by falling inflation and China’s reopening, International Monetary Fund managing director Kristalina Georgieva said on Sunday. The IMF expects global inflation to decline to 6.6 per cent in 2023 from 8.8 per cent last year. “China’s reopening is helping, as well as resilient labour markets and consumer spending in the US and the EU,” said Ms Georgieva. Public debt is a particular concern, with several economies in the region facing elevated debt-to-GDP ratios — some close to 90 per cent,” Ms Georgieva said. These are key to mitigating risks when they materialise, while enabling governments to maintain essential spending, stabilise debt, and build investor trust,” Ms Georgieva said.
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