Coordinated action is needed to stop the spread of fragile states-IMF Managing Director Reuters

© Reuters.File photo: International Monetary Fund (IMF) President Kristalina Georgieva (Kristalina Georgieva) opened in Washington, U.S. during the IMF and the World Bank’s Fall 2019 Annual Meeting of Finance Ministers and Bank Governors Speech at the press conference

WASHINGTON (Reuters)-International Monetary Fund Managing Director Kristalina Georgieva said on Monday that concerted action is needed to arrest and begin to reverse the increasing number of fragile states.

Georgieva told a group at the autumn meeting of the International Monetary Fund and the World Bank that the COVID-19 pandemic has exacerbated already more vulnerable to extreme poverty, drought, rising food prices, and in some cases wars, etc. The problem of the country in question.

“We must humbly acknowledge that the world of fragile states has been expanding, and unless we promise to bring all the forces together, we will not stop or reverse this trend,” she said.

Georgieva said that the economic trends of advanced economies and all developing countries are divergent, but the gap between fragile and conflict-affected countries is much larger. The actual per capita GDP of these countries will be in 2020. A decrease of 6.6%.

These countries have also seen greater growth in public debt and are expected to face greater inflationary pressures, but it is difficult to increase income.

She said that the support of the international community is essential to help fragile countries and reverse the widening differences, and pointed out that the International Monetary Fund has provided 7.5 billion U.S. dollars to support fragile countries.

She said that the International Monetary Fund recently allocated $650 billion for new special drawing rights, including $16.2 billion for these countries.

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