The world economy can avoid recession only through decisive and joint actions of the authorities, which must be taken this year, Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva said on July 27, speaking at a conference of the World Trade Organization, Report informs.
Georgieva also expressed confidence that the heads of central banks are coordinating their actions to work more effectively to stabilize the economies.
Earlier, the IMF warned of serious risks of fragmentation of the global economy, which is fraught with a decrease in the effectiveness of multilateral cooperation in the fight against climate change and will create preconditions for the current food crisis to become the norm.