IMF chief warns world is a very different place after crises like Covid

The Managing Director of the IMF warned that we need to “think of the unthinkable,” as we live in “a more shock-prone world” impacted by the Covid-19, Russia’s invasion of Ukraine and the recent earthquake across Syria and Turkey, CNBC reported.

“We all have to change our mindset to be much more agile and much more oriented towards building resilience at all levels, so we can handle the shocks better,” Kristalina Georgieva said on Tuesday, during a World Government Summit panel hosted by CNBC.

The IMF chief signaled the need for resilience in our planet, in societies that must allow equal opportunities, and in people, who must benefit from education, health and good social protection.

On Russia’s invasion of Ukraine, Georgieva said the world lost “a very precious peace dividend,” prompting nations to spend more on defence and less on domestic concerns, such as healthcare and infrastructure.

“We cannot take peace for granted anymore,” she said.