The World Bank reported that global poverty reduction has stalled, with poverty levels in low-income countries exceeding those before the pandemic.

While the world economy is performing reasonably well, Georgieva warned that trade is growing at a rate slower than global growth.

The IMF is set to release updated global growth forecasts, with Georgieva indicating that growth is expected to exceed 3%.

Amidst rising mistrust and geopolitical tensions, Georgieva emphasized the need for international cooperation to address economic fragmentation.

Key discussion topics at the meetings include strategies to enhance global growth, address debt distress, and finance the transition to green energy.

She expressed that the combination of slow growth and high debt is causing significant economic pain worldwide.

Georgieva highlighted that global government debt is projected to reach $100 trillion by the end of the year, with $36 trillion of that in the United States.

The IMF forecasts indicate a challenging future characterized by low growth and high debt, leading to greater portions of government revenue being allocated to interest payments.

Kristalina Georgieva, managing director of the International Monetary Fund (IMF), delivered a pessimistic assessment of the global economy ahead of the IMF and World Bank meetings.

The Financial Times echoed the need for global cooperation amid challenges such as trade wars, climate change, and debt crises, while noting the historical significance of the IMF and World Bank's establishment.

She acknowledged a slight decrease in official inflation rates but emphasized that families still feel the burden of high prices, leading to public anger.

Georgieva noted a rise in trade restrictions driven by national security concerns, predicting that harmful trade interventions will triple by 2024.