Faced with an “unprecedented combination of shocks”, International Monetary Fund (IMF) managing director Kristalina Georgieva today called on governments to target the most “vulnerable” populations with support measures.
With the Covid-19 pandemic and the war in Ukraine, “we have experienced two shocks in two years. We need to think seriously about the right articulation of our policies,” the head of the IMF said, speaking in Bali, Indonesia, on the occasion of the economic meeting G20 officials.
“If monetary policy must be tight, fiscal policy must continue to protect the most vulnerable citizens” rather than the entire population as a whole, Kristalina Georgieva said.
Governments’ support measures “if they are not well timed and if they do not take into account their sustainability in the medium term, may work against the objectives of monetary policy”, in particular reducing high inflation, he said.
Source: AMPE
Source: Capital
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