Georgieva at G20, courageous action is needed to end the pandemic

"Inspired" by the architect of "the Cloud, global leaders must act boldly now to end the pandemic and create space for a more sustainable and inclusive economy."

This was stated by the director general of the IMF Kristalina Georgieva ahead of the G20.

There is a need for joint action by the G20 - not just commitments to action - on three fronts: ending the pandemic also by sharing vaccines;

help developing countries by speeding up the implementation of debt resolution;

and a commitment to a package of measures to achieve the net zero emissions target by mid-century. 

"The good news is that the foundations for the recovery remain solid thanks to the effect of the vaccines and the extraordinary measures taken. But progress is held back by the new variants and their economic impact," says Georgieva, noting that the IMF recently revised global growth estimates are down to 5.9% for this year.

    "The outlook is very uncertain, and there are downside risks - adds Georgieva -. Inflation and debt are growing in several economies".