IMF chief urges strong G20 action to reverse ‘dangerous divergence’ in global economy

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Group of 20 countries should take strong policy actions to reverse a “dangerous divergence” that threatens to leave most developing economies languishing for years, the head of the International Monetary Fund said in a blog on Wednesday.

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IMF Managing Director Kristalina Georgieva said “much stronger international collaboration” was needed to accelerate the rollout of COVID-19 vaccines in poorer countries, including additional funding to help them buy doses and reallocation of excess vaccines from surplus to deficit countries.

She called for continued, targeted fiscal support by G20 governments to support economies, and said central banks should maintain accommodative monetary and financial policies to support flow of credit to households, and firms.

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