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IMF says US economy loses global dominance

Kristalina Georgieva mentioned weakened government regulation, income diversification, and digitalization as key factors driving rapid growth in developing countries

DUBAI, February 11. /TASS/. The US economy is losing its leading role in the multipolar world as emerging markets gain strength, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said at the World Government Summit in Dubai.

"We have to recognize that we are in a multipolar world. So cooperation, as it once was when one country dominated, is going to be different. We still have one economy that is the strongest, the United States’. But we also have many economies, especially emerging market economies, that are advancing much faster," she said.

Georgieva mentioned weakened government regulation, income diversification, and digitalization as key factors driving rapid growth in developing countries.

She added that the IMF supports stronger economic collaboration between these countries.