China News Agency, Washington, October 5 (Reporter Sha Hanting) International Monetary Fund (IMF) President Georgieva made a speech on the 5th local time, saying that due to economic growth differentiation, inflation and debt, the IMF expects this year The global economic growth rate will be slightly lower than the 6% previously predicted.

　　Georgieva delivered an opening speech at the IMF Autumn Annual Meeting when attending an online event at Bocconi University in Italy that day.

She said that the IMF predicted in July this year that the global economy will grow by 6% in 2021, but in the World Economic Outlook to be released next week, the IMF expects the global economic growth to slow slightly this year.

　　Georgieva said that, affected by the epidemic, global recovery is still struggling.

The global equilibrium recovery is faced with three main problems, the divergence of economic growth, inflation and debt problems.

In terms of economic growth, China and the United States are still important engines of global growth. The growth momentum of some developed and emerging economies is also increasing, including Italy and the wider European region.

　　In terms of inflation, headline inflation rates in many countries have risen rapidly.

The IMF predicts that the price pressures faced by most countries will subside in 2022, but in some emerging and developing economies, price pressures will continue.

　　In terms of debt, the IMF estimates that the scale of global public debt is close to 100% of GDP.

In this regard, countries are also severely divided.

Some countries are more affected than others, and the situation of developing countries is particularly severe.

　　Georgieva said that under the current situation, three countermeasures should be taken.

First, vaccinate people around the world to achieve the goal jointly proposed by the IMF, World Bank, WHO and WTO, that is, the vaccination rate of countries will increase to at least 40% by the end of this year and at least 70% by the middle of 2022.

　　Second, countries should calibrate their policies according to their own national conditions and carefully implement targeted fiscal measures.

Governments of various countries need to establish policy credibility and establish a sound medium-term framework, which can provide current support while gradually reducing debt and achieving a balance between the two.

　　Third, accelerate reforms and realize economic transformation.

Countries should take advantage of the tremendous opportunities brought about by the green transformation and digital revolution to achieve economic inclusive development.

　　Georgieva also said that in response to the challenges posed by the epidemic, the IMF has provided 87 countries with US$118 billion in new financing and provided debt relief for the poorest member states.

The IMF launched a new round of special drawing rights (SDR) allocations of US$650 billion in August this year.

If these new SDRs can be fully utilized, it will promote the recovery of the global economy, benefit all countries in the world, and benefit the general public.

　　The IMF and the World Bank fall annual meeting will be held in Washington from the 11th to the 17th of this month.

(over)