Davos, May 23: The global economy faces “perhaps its biggest test since the Second World War,” the International Monetary Fund (IMF) said on Monday as the World Economic Forum began in Davos for the first time saw personal attendance since 2020.
IMF Managing Director Kristalina Georgieva said, “We face a potential confluence of calamities.”
According to CNN, she warned that Russia’s invasion of Ukraine has “compounded” the effects of the Covid-19 pandemic, weighing on the economic recovery and fanning inflation as the cost of food and fuel jumps.
To control the economic stress, the IMF has called upon the government officials and business leaders meeting in Davos to discuss lowering trade barriers.
