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International Monetary Fund (IMF) Managing Director Kristalina Georgieva attends a session at the World Economic Forum (WEF) annual meeting in Davos on January 17, 2023.
Fabrice Coffrini | Afp | Getty Images
The global economic outlook is not as bad as feared a couple of months ago — “but less bad doesn’t quite yet mean good,” according to the managing director of the International Monetary Fund.
“We have to be cautious,” Kristalina Georgieva told a closing panel at the World Economic Forum in Davos moderated by CNBC.
She said headline inflation was heading down and China’s reopening was expected to boost global growth, with the IMF forecasting its economy will outpace global growth of 2.7% this year after slipping below it for the first time in four decades last year.
“Also what has changed in the positive is we have seen demonstrably the strength of labor markets translating into consumers spending and keeping the economy up,” she said.
This is a breaking news story. Please check back for updates.
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