The global economy faces “the biggest test since the Second World War” said International Monetary Fund (IMF) chiefs in a post Sunday, as world leaders convene May 23–26 in Davos, Switzerland, for the World Economic Forum (WEF) Annual Meeting 2022.
Russia’s invasion of Ukraine has exacerbated the COVID-19 crisis, destroying lives and economic growth while driving up inflation, said the post, co-authored by managing director of the IMF Kristalina Georgieva, deputy director Gita Gopinath, and strategy director Ceyla Pazarbasioglu.
Tightening monetary measures, implemented by central banks around the world, have placed further pressure on highly-indebted nations, while food and energy price spikes have affected almost everyone, said the authors….