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The world’s economy will continue to grow this year but faces an “obstacle course” of “renewal of COVID infections, much more persistent than anticipated inflation, and record high debt levels,” Kristalina Georgieva, managing director of the International Monetary Fund, told the World Economic Forum on 21 January.
“The pressure on prices comes from food prices shooting up, caused to a certain degree by the climate [crisis]…and energy prices shooting up and this is complicated…because there is an element of geopolitical tensions,” she said.
Georgieva lauded the U.S. Federal Reserve for moving to raise interest rates as “inflation in the U.S. is turning into an economic and social concern.”
However, she warned the higher U.S. rates will impact poor countries, especially those with a heavy burden of dollar-denominated debt, “which could throw cold water on what, for some countries, is an already weak recovery,” she noted.
TREND FORECAST: What is absent from all these Bankster reports are the socio economic and geopolitical implications of the COVID War and economic disaster it has created.
In these developed nations that are going down hard and fast, there will be ongoing civil unrest, rising crime and violence, more government corruption, regional wars and unprecedented migrant waves as people try to escape to safe-haven nations.