IMF chief Kristalina Georgieva on Thursday asked central banks grappling with the impact of the US-Israel war on Iran to fight inflation even at the cost of growth, arguing that “pain was an unavoidable consequence of any conflict”.
In her speech at the IMF Headquarters here, Georgieva also cautioned policymakers from across the world to reject “go-it-alone” actions such as export controls and price controls which can further upset global conditions.
“A word of caution upfront: this being a classic negative supply shock, demand adjustment is unavoidable. We cannot go through it without some pain,” she said, referring to the impact of costlier oil on global economies.
“Policy makers can help to reduce this pain in multiple ways. Certainly, one way they can help is please do not make matters worse. So, I appeal to all countries to reject go-it-alone actions export controls, price controls, and so on that can further upset global conditions: don’t pour gasoline on the fire,” GeorgieIMF chief Kristalina Georgieva on Thursday asked central banks grappling with the impact of the US-Israel war on Iran to fight inflation even at the cost of growth, arguing that “pain was an unavoidable consequence of any conflict”.
In her speech at the IMF Headquarters here, Georgieva also cautioned policymakers from across the world to reject “go-it-alone” actions such as export controls and price controls which can further upset global conditions.
“A word of caution upfront: this being a classic negative supply shock, demand adjustment is unavoidable. We cannot go through it without some pain,” she said, referring to the impact of costlier oil on global economies.
“Policy makers can help to reduce this pain in multiple ways. Certainly, one way they can help is please do not make matters worse. So, I appeal to all countries to reject go-it-alone actions export controls, price controls, and so on that can further upset global conditions: don’t pour gasoline on the fire,” Georgie Latest News [ SOBAN NEWS: International and National ]
