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IMF's Georgieva says complacency on growth, trade risks 'more massive slowdown'

IMF's Georgieva says complacency on growth, trade risks 'more massive slowdown'
FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks to reporters as she arrives for her first day in her new post at IMF headquarters in Washington, U.S. October 1, 2019. REUTERS/Jonathan Ernst -
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JONATHAN ERNST(Reuters)
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WASHINGTON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva on Tuesday warned of a risk of complacency among countries, and without action to resolve trade conflicts and support growth, global economic deceleration could turn into “a more massive slowdown.”

“We are decelerating, we are not stopping, and it’s not that bad. And yet, unless we act now, we are risking a potential more massive slowdown,” Georgieva said at an event to preview IMF and World Bank annual meetings next week in Washington.

If a synchronized slowdown in world economies worsens, she said the world may need a “synchronized policy response” along the lines of stimulus efforts enacted during the 2008-2009 financial crisis. I

(Reporting by David Lawder; Editing by Chris Reese)

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