International Monetary Fund (IMF) Managing Director Kristalina Georgieva highlighted the humanitarian crises unfolding in Yemen and Sudan, often overshadowed by conflicts in more visible regions like Ukraine and Gaza.
Speaking at a press conference, Georgieva emphasized the Fund’s commitment to supporting all its member countries, regardless of their level of international attention.
She acknowledged the resilience of Middle Eastern economies, despite challenges such as Israel’s conflict with Hamas and attacks by Yemen’s Huthi rebels on Red Sea maritime traffic. Georgieva cited Jordan and Egypt as examples of remarkable economic resilience.
Despite this, the IMF revised its growth forecast for the Middle East downward by 0.7 percentage points.
Georgieva also praised Argentina for its efforts in curbing inflation, while commending Latin American governments for their effective management of economies and monetary policies.
Regarding the global economy, Georgieva reiterated the IMF’s call for fiscal restraint to prepare for future crises.
She emphasized the importance of governments maintaining fiscal discipline, especially as many countries have depleted their fiscal capacity.
The IMF has been advocating for increased tax revenues to combat climate change, recognizing the need for tailored approaches based on individual country circumstances.
Georgieva urged a balance between revenue mobilization and improved spending efficiency to address fiscal challenges effectively.
In its latest annual report on the global economy, released on Tuesday, the IMF revised its growth forecast upwards to 3.2 percent for the year.
Despite this positive outlook, Georgieva emphasized the ongoing need for fiscal prudence and strategic economic management to navigate uncertainties and ensure sustainable growth worldwide.
