WASHINGTON (Pakistan Point News / Sputnik - 04th May, 2023) International Monetary Fund Managing Director Kristalina Georgieva warned on Thursday that the world may split into rival economic blocs, at a time when global growth is at a historic low both in the near and medium term.
"After decades of increasing global integration, there is a growing risk that the world may split into rival economic blocs ... This risk is rising at a time global growth is weak by historical standards�both in the near and medium term," Georgieva said at the Brussels Economic Forum.
Such a scenario would be bad for everyone, including for people in Europe, she added.
