WASHINGTON (Reuters) – Spain’s Finance Minister Nadia Calvino told Reuters that the members of the International Monetary Fund (IMF) should do more to end the war in Ukraine, which has had a serious negative impact on global economic growth. He said he was.
Calvino, who was elected chairman of the IMF’s steering committee in January, said this week’s annual IMF-World Bank meeting was marked by deep uncertainty about war, which has guided the world. Said to symbolize the “crustal movement” of the principle.Order after World War II.
“The most dominant emotions are anxiety and uncertainty. We don’t know how long this war will last or what the impact will be,” Calvino said, adding that war-related food and the impact of soaring energy prices on the world. .
Calvino said IMF members are becoming increasingly concerned given the length of the war and its impact on inflation, which is causing a sharp tightening of monetary policy in countries around the world.
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“There is a sense that this is a serious issue and that we need to work together,” she said. “And of course, I think the words for Russia to stop the war are getting tougher because of the suffering that strikes the most vulnerable countries, the poorer segments of our society. It was a “wake-up call” about the importance of institutions.
She said global lenders were not up to the task despite some African leaders expressing frustration that the war in Ukraine had diminished their attention to the crisis facing poor countries. optimistic, citing the creation of new financing instruments, such as the food shock window, set to help countries hit hard by the shock of the war.
“Right now, we are very focused on addressing urgent needs: building reinsurance, fiscal support and debt relief mechanisms to safeguard global financial stability. is,” she said.
She also said the wealthy G7 nations will meet with African finance ministers on Wednesday to address their specific concerns and find out how best to help their citizens.
“It was a very necessary and very good dialogue,” she said, adding that the effects of the war in Ukraine were magnified because it reflected a profound change in the world order. Of course, it should strengthen our multilateral commitments and our ability to coordinate policies and work together.”
Quota reform, another major demand of IMF critics and activists, will be addressed later, she said.
(Reporting by Andrea Charal; Editing by Paul Simao)
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