The head of the International Monetary Fund cautioned on Thursday that high debt and low growth remained major impediments to the global economy.
IMF Managing Director Kristalina Georgieva told CNBC that while notable progress had been made in the global economic recovery, governments had become too accustomed to borrowing, with “anemic growth” adding to the challenges of servicing that debt.
“It’s not yet time to celebrate,” she told Karen Tso. “When we look into the challenges ahead of us, the biggest one is low growth, high debt. This is where we can and must do better,” she added.
While Georgieva commended the work of major central banks in taming inflation, she noted that the achievements had not been universal and that some economies were continuing to struggle with higher prices, which was adding to social and political discontent.
“It is successful major economies that have done really well … and …