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Investing.com -- International Monetary Fund Managing Director Kristalina Georgieva called on member countries Thursday to maintain trade as an engine of global economic growth, despite President Donald Trump’s recent implementation of steep new tariffs.
Speaking at a news briefing during the IMF and World Bank annual meetings in Washington, Georgieva emphasized that the global economy is "excessively imbalanced" and requires corrective measures from various nations.
She specifically pointed to countries with large external surpluses, such as China, stating they should rely more on domestic consumption rather than exports. Conversely, countries with significant fiscal deficits, like the United States, need to reduce these deficits and create incentives for private savings.
Georgieva highlighted growing public anxiety, noting that "people are anxious, they are taking to the streets to demand better opportunities." She stressed that guarding against financial instability remains the IMF’s main priority.
The IMF chief also called on member nations to reduce debt and increase reliance on domestic revenue sources. Additionally, she emphasized the need to replenish the IMF’s relief fund for the poorest countries, promising that the organization would be a "prudent steward" of its resources.
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