Kristalina Georgieva, the director of the International Monetary Fund (IMF), emphasized on Sunday that poor countries need to fulfill certain conditions in order to receive economic support from wealthy nations. Georgieva stated during a panel at the World Economic Forum’s special meeting in Riyadh, Saudi Arabia that poor countries need to collect taxes, fight corruption, improve spending quality, and show commitment to their citizens. She mentioned that if these conditions are met, rich countries should respond with substantial international aid for debt restructuring.
The global economy has shown resilience despite recent shocks, and the IMF has raised its global growth projection to 3.2% for 2024, mainly due to the strong economic performance of countries like the United States and China. Georgieva stressed that it is crucial for countries to address inflation, rebuild fiscal reserves to withstand external shocks, and find ways to cooperate to avoid negative impacts on growth prospects.
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