IMF chief Georgieva warns world unprepared for increasing economic and political shocks

International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned that the world has not yet internalised the reality of increasingly frequent economic and political shocks. She said, “Aggódom amiatt, hogy még nem tudatosítottuk magunkban: ilyen lesz a világ. Nem fogunk eljutni egy olyan pontra, ahol a sokkhatások hirtelen eltűnnek.”

Georgieva noted that the IMF has navigated the Covid‑19 pandemic, the war in Ukraine, trade disputes and the current Middle‑East conflict, and that the institution now has just under $1 trillion of lending capacity. She called for building foundations that can withstand such crises and stressed that the rise of artificial intelligence must not repeat the missed signals on globalisation‑driven inequality.

The Fund plans to update its World Economic Outlook in July after revising growth forecasts in April due to the Middle‑East war. It also announced it will restart its annual review of the Russian economy – the first such assessment since Russia’s invasion of Ukraine – despite strong opposition from several European Union members who fear the move could legitimise Russia’s attempts to evade sanctions. Georgieva said data collection on Russian trade has been difficult, but the review will eventually be resumed.