HomeBusinessFighting COVID will help economy recover faster, lower inflation - IMF's Georgieva

Fighting COVID will help economy recover faster, lower inflation – IMF’s Georgieva

WASHINGTON : The COVID-19 pandemic stays the largest danger to the worldwide economy, and is contributing to rising inflation in lots of nations, International Monetary Fund chief Kristalina Georgieva stated on Wednesday.

Georgieva urged redoubled efforts to spice up vaccinations and beef up defenses in opposition to the coronavirus, saying these efforts would help ease provide chain disruptions and fight inflation, along with rate of interest will increase now being eyed by the U.S. Federal Reserve and different central banks.

The IMF chief conceded that inflation had turned out to be a “more significant economic and social problem” than anticipated, and stated economists had underestimated the affect of delayed consumption and local weather shocks on meals costs.

(Reporting by Andrea Shalal And David Lawder)

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