International Monetary Fund (IMF) Director Kristalina Georgieva said «robust recovery remains elusive» citing rampant inflation. She added, at a conversation Tuesday with President of the World Bank (WB) Group (WB) David Malpass on the occasion of the Spring Meetings of the two institutions in Washington, that this situation requires central banks to keep interest rates high to fight inflation, which is the best way for the recovery of resilient growth prospects. The rapid transition from low interest rates and abundant liquidity to high interest rates and less liquidity has shown the weaknesses of the financial sector, and the difficulties of decision-makers to take action. She explained that despite heavy consumer spending in the United States of America and Europe, as well as improvement in China thanks to the revitalization of its economy, global economic growth in 2023 will remain below 3%.

Source: Agence Tunis Afrique Presse