The head of the International Monetary Fund predicts it could take until 2023 for the global economy to return to its pre-coronavirus levels
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Struggling and bankrupt government have long-dreaded IMF conditions on lending, including strict limits on government outlays and privatizing assets, but while Georgieva still urges governments to “spend wisely,” the emphasis is now very much on the spending. The IMF is also attaching green conditions to its financial assistance and Georgieva pushes gender equality at every opportunity. “We are richer when women are equal,” she said.While Georgieva has more leverage than any IMF leader before her — lending capacity at the D.C.-based NGO has quadrupled to $1 trillion since 2008 — she still operates within strict constraints largely determined by the United States, the IMF’s largest shareholder.
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