IMF chief urges faster support for debt-ridden nation FMTNews FMTBusiness
IMF managing director Kristalina Georgieva speaks during the opening of the China Development Forum in Beijing.
The IMF chief said such assistance would be particularly important against the backdrop of high-interest rates and currency depreciation. The Boao Forum, often seen as Asia’s equivalent to the World Economic Forum’s annual meeting in Davos, Switzerland, is being held in the southern Chinese resort island of Hainan until Friday.
She said IMF research showed the long-term cost of trade fragmentation could be as high as 7% of the global gross domestic product, and Asia as a highly integrated region would be the most adversely affected by runaway fragmentation.
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