00:00The global economy has weathered the Iran war energy shock better than feared.
00:04International Monetary Fund Managing Director Kristalina Georgieva said
00:08few factors contribute to this achievement such as
00:11drawdowns of oil and gas reserves by many countries,
00:14increases in non-Gulf energy supplies,
00:17lower energy demand, increased renewable energy capacity
00:20and return to coal power generation in some places.
00:25However, Georgieva raised concerns about deteriorating fiscal conditions
00:29in some countries, shown by rising bond yields
00:32and stalled this inflation process.
00:35She said risks to the global outlook were more balanced than in April
00:38but still tilted to the downside due to mounting fiscal pressures
00:42and the potential that central banks will have to maintain tight monetary policy
00:46to control inflation.
00:48Georgieva also warned against complacency by policymakers
00:51amid benchmark Brent crude oil prices
00:53that have been hovering in the $80-$90 per barrel range since mid-June
00:59well below their spring peaks, above $118.
01:02She said that all countries need to tackle their fiscal problems
01:06and formulate and present credible plans
01:08to ensure their debt and deficits are on a sustainable path.
01:12She did not single out individual countries needing fiscal consolidation.
01:15She said that all of the four countries are on a sustainable path.
01:16She said that she was just not one of the nationally
01:17if she was the land of a former country.
01:19You
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