IMF warns Fed hikes to hit struggling economies

US central bank faces “delicate balancing act” between taming inflation and sapping recovery, says IMF managing director Kristalina Georgieva.

24/01/2022 8:57:00 AM

US central bank faces “delicate balancing act,” between taming inflation and sapping recovery, says IMF managing director Kristalina Georgieva.

US central bank faces “delicate balancing act” between taming inflation and sapping recovery, says IMF managing director Kristalina Georgieva.

The Fed is primed to raise the cash rate in March, according to Wall Street consensus, for the first time since the pandemic struck, following a sharp uptick in consumer prices.IMF managing director Kristalina Georgieva says higher dollar funding costs will hurt struggling emerging market economies.

“The issue here is that what the Fed does has implications for the US, for other countries, and especially for those that have a high level of dollar-denominated debt,” she said.This would add pressure on the global economy during a crucial period in the rebound from the 2020 recession.

Read more: Financial Review »

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