IMF: Saudi Vision 2030 success is a clear example of the ability of countries to transform

Kristalina Georgieva, Director of the International Monetary Fund, stressed that the success of “Saudi Vision 2030” is a clear example of countries’ ability to transform.

She explained during a session at the World Economic Forum in Riyadh that the fruits of economic growth must be distributed to all countries, as there is a huge disparity in economic performance between countries, adding, “800 million people around the world are currently suffering from famine, and we have failed to share the benefits of growth across regions.” others in the world.”

The Director General of the International Monetary Fund said that the strength of the dollar makes confronting inflation more difficult.

She added that even as interest rates in the United States tend to decline, they will not return to levels before the Corona pandemic.

She added that interest rates negatively affect growth prospects at the global level, and that their rise in the United States means directing money to it, and therefore the risk appears in developing countries, and means strengthening the dollar currency, which means other countries suffer in the price of currencies.

She stressed that the global economy has proven its resilience in dealing with crises in the face of repeated shocks, adding, “The world faces two problems. The first is that despite economic growth of 3.2% last year, it is weak compared to historical standards. The second problem is the large rift between the countries of the world, as some of them are achieving good growth.” Some of them are too late, and if we do not solve the two problems, we will face great difficulties in the future, and history may remind us that this decade is unstable and we need to describe it historically as a decade of transformations.”