All posts tagged: Kristalina Georgieva

IMF chief warns European governments may ‘regret’ backing protesting farmers

IMF chief warns European governments may ‘regret’ backing protesting farmers

Published by Sam

European governments should resist calls for greater financial support from protesting farmers across the continent, or they could come to regret it, IMF managing director Kristalina Georgieva said Thursday. Issued on: 02/02/2024 – 01:19 1 min Farmers from Germany, France, Italy, Belgium and Greece have staged weeks of disruptive but largely peaceful protests aimed at winning concessions from European leaders ahead of upcoming elections. “You see the farmers protesting. On the human level I understand they face more hardship and it is not easy to do the job they do,” Georgieva said during a press briefing at the International Monetary Fund’s offices in Washington. “But if that sentiment continues and it pushes governments in a corner in which they find themselves unable to do what is necessary for (the) strength of the economies, then there may be days to regret,” she added. Thousands of farmers from across Europe protested in Brussels Thursday during a meeting between French President Emmanuel Macron and European Commission chief Ursula von der Leyen on “the future of European agriculture.” After …

IMF board authorises .7 billion for Argentina after Milei’s reforms

IMF board authorises $4.7 billion for Argentina after Milei’s reforms

Published by Sam

The International Monetary Fund on Wednesday approved the most recent review of its $44 billion program with Argentina, allowing for the disbursement of $4.7 billion. Issued on: 01/02/2024 – 02:30 1 min The fund said in a statement that even as key program targets were missed through the end of last year “due to severe policy setbacks,” it approved waivers of non-observance. “Program targets were modified, in line with the authorities’ initial actions and ambitious plans to bring the program back on track,” the fund said. The board also approved an extension of the program through Dec. 31, 2024, “along with some rephasing of planned disbursements within the existing envelope of the program.” The IMF did not supply more details on the changes. The government and IMF staff recently agreed on the seventh review of the program, which was delayed amid a change of government as President Javier Milei took office on Dec. 10. “The new administration is taking bold actions to restore macroeconomic stability and begin to address long-standing impediments to growth,” said IMF Managing Director Kristalina Georgieva in the …

IMF’s Georgieva Warns of Spending ‘Pressure’ Before Global 2024 Elections

IMF’s Georgieva Warns of Spending ‘Pressure’ Before Global 2024 Elections

Published by skeptic

WASHINGTON —  The year ahead will be “very tough” for fiscal policy — especially for countries holding elections — the IMF chief told AFP before departing for the World Economic Forum in Davos, Switzerland. “This is going to be a very tough year, because fiscal policy has to rebuild buffers and deal with the debt that was accumulated in many countries,” International Monetary Fund Managing Director Kristalina Georgieva said in an interview in Washington. “About 80 countries are going to have elections, and we know what happens with pressure on spending during election cycles,” she continued. Billions of people in dozens of countries around the world are due to go to the polls this year, from India to the United States, putting pressure on governments to either raise spending or cut taxes to win popular support. The IMF is due to publish updated economic forecasts later this month which will show the global economy is broadly “on track” to meet its previous forecasts, according to Georgieva. The global economy is “poised for a soft landing,” …

AI to impact 60% of advanced economy jobs, says IMF chief

AI to impact 60% of advanced economy jobs, says IMF chief

Published by Sam

Artificial intelligence (AI) will impact 60 percent of jobs in advanced economies, IMF Managing Director Kristalina Georgieva told AFP, shortly before departing for the World Economic Forum in Davos, Switzerland. Issued on: 15/01/2024 – 00:21 1 min “Advanced economies, some emerging markets, are going to see 60 percent of their jobs impacted,” she said in an interview in Washington, citing an International Monetary Fund report published Sunday on the topic.  “And then it goes down to 40 percent, for emerging markets, 26 percent for low-income countries,” she added, referencing the IMF report, which notes that overall, almost 40 percent of global employment is exposed to AI. The IMF report notes that half of the jobs impacted by AI will be negatively affected, while the rest may actually benefit from enhanced productivity gains due to AI. “Your job may disappear altogether — not good — or artificial intelligence may enhance your job, so you actually will be more productive and your income level may go up,” Georgieva told AFP. While AI will initially have a lower …