IMF chief warns of 'lost generation' if low-income countries don't get more help

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[WASHINGTON] The head of the IMF on Friday urged advanced economies to provide more resources to low-income countries, warning of an emerging 'Great Divergence' in global growth that could risk stability and trigger social unrest for years to come. Read more at The Business Times.

Setbacks for living standards in developing countries would make it much more difficult to achieve stability and security for the rest of the world, she said.

A former top World Bank executive, Ms Georgieva said vaccination efforts were uneven, with poor countries facing"tremendous difficulties" even as official development funds were going down. She said accelerating vaccinations could add US$9 trillion to the global economy by 2025, with 60 per cent of benefits going to developing countries.

Source: News Formal (newsformal.com)

 

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