WASHINGTON: The International Monetary Fund’s (IMF) strategy chief is urging government officials to focus on medium-term fiscal frameworks and maintain a firm commitment to price stability in the current shock-prone world.
Christian Mumssen, who took over as the fund’s director of strategy in October, said the global economy had been rocked in recent years by a rapid succession of major shocks, including the coronavirus pandemic, cost-of-living crises, trade frictions and wars in Ukraine and the Middle East.
“Technologically, artificial intelligence (AI) and digital finance are advancing at a speed few of us anticipated. And geopolitically, the post-war global order is giving way to a more fragmented, multipolar world,” he said in remarks prepared for an event at the Atlantic Council.
“The global economy has proved remarkably resilient in the face of these forces. But the sheer scale of what is under way creates an exceptionally high degree of uncertainty – and we should expect the unexpected.”
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