IMF President Georgieva: The Importance of Global Trade Emphasized

IMF President Kristalina Georgieva evaluated the current global economic situation during a press conference held as part of the IMF-World Bank Annual Meetings. Georgieva emphasized the critical role of trade in the world economy, highlighting that trade should be sustained as the engine of growth.

Georgieva expressed that there have been some developments in the global economic outlook over the past six months, presenting a more encouraging short-term picture compared to the previous situation, but also underscored some vulnerabilities that need attention. She noted that there are no indications of recession in the global economic environment, yet emphasized that they still anticipate a noticeable slowdown.

Summarizing the current economic situation, Georgieva stated, “Six months ago, we were looking at a much more pessimistic picture. However, currently, the situation is better than feared but worse than needed.” This situation once again highlights the importance of increasing international cooperation and trade.

Georgieva indicated that one of the IMF's priorities regarding global trade is to minimize the negative effects that political uncertainties and protectionism can create, mentioning the potential for recovery even during times when trade struggles. She emphasized that governments and companies need to develop strategies to enhance international trade opportunities.

Lastly, Georgieva pointed out that trade is not just an economic activity but also a tool that strengthens relationships between countries. She stressed the necessity of increasing global cooperation and reviving trade.