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Global trading system is experiencing the reboot — IMF Chief

According to Kristalina Georgieva, volatility in financial markets and uncertainty in trade policy increased significantly

WASHINGTON, April 17. /TASS/. International Monetary Fund (IMF) Managing Director Kristalina Georgieva said the global trading system is experiencing the reboot. According to her, volatility in financial markets and uncertainty in trade policy have increased significantly.

"Six months ago, in this very place, I spoke of low growth and high debt. But I also spoke of resilience — countries surviving large shocks thanks to strong fundamentals and agile policies," she noted, speaking at the fund ahead of the spring meeting of the governing bodies of the IMF and the World Bank, which will be held next week.

"This resilience is being tested again — by the reboot of the global trading system. Financial market volatility is up. And trade policy uncertainty is literally off the charts," Georgieva noted.

She pointed at the decline in the value of securities amid rising trade tensions.

"This is a reminder that we live in a world of sudden and sweeping shifts. And it is a call to respond wisely. A better balanced, more resilient world economy is within reach. We must act to secure it," she said.

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Trade & Cooperation

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