Kristalina Georgieva, managing director of the International Monetary Fund IMF, says the world economy has proved resilient but the outlook is underwhelming with "weak" medium-term growth prospects.
Speaking during the annual meetings of IMF/World Bank Meetings in Washington, Georgieva reminded her audience of projections made six months earlier during the Spring Meetings when the IMF predicted "a considerable slowdown in growth, but no recession. Six months on, where do we stand? In a nutshell, better than feared but worse than needed. And uncertainty has continued to go up, up, up. Gold values, too."
"As you saw in our latest World Economic Outlook, global growth has held fairly steady, and it is projected to slow from 3.3 last year to 3.2 this year and 3.1 in 2026. That is better than we feared, better than what we projected six months ago.