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WASHINGTON, Nov. 22 (Xinhua) – International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Sunday urged the leaders of the Group of 20 (G20) to maintain political support and strengthen the economic bridge to recovery. since the world economy “has not disappeared”. of the forest “.
“I congratulated the G20 countries as a whole for taking unprecedented actions to mitigate the impact of COVID19, including fiscal and monetary measures, which have helped prevent massive bankruptcies and an even deeper crisis,” Georgieva said in a statement after a virtual meeting of the G20 Leaders Summit hosted by Saudi Arabia.
“I also stressed that the world is not out of the woods yet in terms of this crisis. Cooperation will be even more important in the future,” Georgieva said, urging G20 leaders to maintain macroeconomic policy support for the companies and workers “until they get out of the health crisis.”
“There should be no premature retirement. It is also time to prepare for a synchronized push for investment in green and digital infrastructure to invigorate growth, limit scars and address climate goals,” he said.
With vaccines on the horizon, Georgieva noted that “we need to make sure they reach everyone, everywhere,” which could add almost US $ 9 trillion to global income by 2025, according to the IMF estimate.
The IMF chief also said that the most important uncertainty we face today is “how can we use the momentum of the disruption caused by this crisis to build a better economy for all.”
Georgieva called on G20 leaders to revitalize the international trading system, foster an international tax system in which everyone pays their fair share, and accelerate the transition to the new climate economy.
“The IMF will continue to count on the support of the G20 to have all the necessary resources to better serve our member countries, and especially those who most need our help,” he said.
In its World Economic Outlook report released last month, the IMF revised up the forecast for the world economy for 2020 to a contraction of 4.4 percent. Despite the upward revision, the IMF said the way out of this crisis is likely to be “long, uneven and highly uncertain.” Final product
