IMF Chief Warns of Increased Risks to Global Financial Stability

IMF chief Kristalina Georgieva has warned that risks to financial stability have increased due to uncertainties in the global economy, higher debt levels, and recent developments in the banking sector. She expects 2023 to be another challenging year with global growth slowing to below 3.0 percent. However, she pointed to China's rebound as a bright spot for the world economy, with the country set to account for around one third of global growth in 2023. Georgieva urged China's policymakers to seek to raise productivity and rebalance the economy away from investment and towards more durable consumption-driven growth.