Russian Finance Minister Anton Siluanov, in his statement at the International Monetary and Financial Committee meeting within the scope of the annual meeting of the IMF and the World Bank in Morocco, said that the debt crisis is a significant risk for the global economy. His words were reported by the agency “Hit the primer”.
According to Siluanov, the biggest concern is the situation in the public debts of developed countries. The Minister believes that the IMF should not ignore this problem as the situation is getting worse. “The debt crisis is a significant risk for the global economy; the biggest concern is the state of public debt in developed countries,” he said.
He noted the fragmentation of the global economy due to the increasing number of trade restrictions, among other significant risks. Siluanov said the IMF should evaluate their negative impact and propose solutions to eliminate the obstacles.
Meeting participants pointed out the instability of the global economic recovery. According to the IMF forecast, global GDP growth in 2023 will be only 3% and inflation will be around 7%. The level of public debt in the world will reach 90 percent.
Siluanov attended the IMF and World Bank meeting as a manager from Russia. After the meeting, the president’s statement will be published instead of the joint statement.
Previously Siluanov explained Why are key rates increasing?