IMF: Eastern Europe faces deep economic ‘scarring’, high inflation, weak growth ...Middle East

WASHINGTON: Eastern and Southeastern Europe is facing deep economic “scarring” and high inflation along with weak growth, reported Sputnik, quoting International Monetary Fund (IMF) Managing Director Kristalina Georgieva.“Turning to growth, the region is facing deep economic scarring,“ Georgieva said at a conference hosted by the IMF and the Croatian National Bank in Dubrovnik.The IMF’s current 2024 outlook for the region, with the exception of Belarus, Russia, and Ukraine, is 3.5 per cent lower than the fund expected to see just before the pandemic in 2020.“It is like taking €50 billion out of peoples’ pockets over these five years,“ the IMF chief noted.Georgieva stated that persistently hi

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