CNBCTV18 - The International Monetary Fund (IMF) chief Kristalina Georgieva has said that world is likely to avoid a recession in 2023. In an exclusive interview with CNBC-TV 18 on the sidelines of the G20 meeting in Bengaluru, the managing director of IMF said that the resilience of labour markets and a mild winter in Europe have helped countries in avoiding a recession. Read more
In this article, IMF chief Kristalina Georgieva says,"Looks like we will avoid a recession. Europe has quickly managed to overcome its dependence on Russian oil and gas. China has opened up and that has created more impetus for growth. India is a bright spot with 15% growth coming from India."
She applauded India and the Finance Ministry for creating an enabling atmosphere to build consensus and the spirit of collaboration plus encouraged India to continue with structural reforms, continue on the path of inclusiveness and create more opportunities for women.
Speaking on her economic outlook for 2023, the IMF chief said that the world economy has been resilient but 2023 will be challenging.
"The war in Ukraine is a great source of uncertainty. It is very uncertain how the war will evolve and this can make energy markets anxious. We hope for peace and calm and a stop to the war," she said.
Georgieva also pointed out that natural disasters including earthquakes in Turkey and Syria have shown how governments need to be prepared for the unthinkable.
"We saw natural disasters in all continents in 2022, including earthquakes in Turkey and Syria. We must have a mindset towards building resilience, resilient people who are healthy and educated with strong social protection. We must also build resilience for everyone to prosper and have a resilient climate," she said.
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