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Oct 5 - Stronger demand for services and progress on lowering inflation have increased the chances that the global economy can escape recession, but fiscal and financial risks abound, IMF chief Kristalina Georgieva said on Thursday.
In remarks prepared for a speech in Abidjan, Ivory Coast, Georgieva said the IMF's new World Economic Outlook, coming out on Tuesday, would show a slow and uneven recovery, with stark differences emerging in trends across the globe. "Fighting inflation is the No. 1 priority," Georgieva said, noting that high prices undermined consumer and investor confidence, and hit the poorest people in society hardest.
The IMF chief's somber message comes days before finance ministers and central bankers from 190 countries gather in Marrakech for a week of meetings about the risks facing the global economy. But most advanced economies are slowing and economic activity in China, the world's second-largest economy, remains below expectations, she said, with many other countries struggling with"anemic growth."
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