IMF: Successive shocks caused global GDP losses of $3.7 trillion

Kristalina Georgieva, Director General of the International Monetary Fund, confirmed that the cumulative loss in global output as a result of successive shocks since 2020 amounts to $3.7 trillion until 2023, adding that most advanced economies are slowing down.

She indicated during a conference in Ivory Coast that the global economy has shown remarkable flexibility, but it still bears deep scars from the Corona pandemic, the war in Ukraine, and high interest rates.

Georgieva added before the fall meetings of the International Monetary Fund and the World Bank: “Although the recovery from the shocks of the past few years is continuing, it is slow and irregular.”