Kristalina Georgieva: US tariffs pose significant risk to global economy

The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva urged Washington to work with its trading partners.

The new US tariffs "clearly pose a significant risk to the global outlook".

This was stated by the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.

She urged Washington to work with its trading partners, AFP reports.

The statement was the first from the IMF chief since President Donald Trump's latest global tariff strike that deepened the trade war. Many fear it will trigger a global recession and fuel inflation.

The tariffs announced by President Donald Trump on April 2 "clearly pose a significant risk to global prospects at a time of slowing growth," Georgieva said.

"It is important to avoid steps that could further damage the global economy. We urge the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty," she added.

In January, the Washington-based institution said global growth is expected to reach 3.3 percent this year. That's below the average global growth rate in the first two decades of the 21st century of 3.7 percent.

The IMF will release its new forecast later this month, in time for its spring meetings in Washington, where the unprecedented US attack with trade tariffs will be high on the agenda. | BGNES

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