"Fasten your seat belts". IMF chief warns that economic uncertainty is here to stay

The global economy is holding up better than expected despite major shocks such as US President Donald Trump's tariffs. However, the resilience may be short-lived, warned the head of the International Monetary Fund Kristalina Georgieva.

"Fasten your seat belts. Uncertainty is the new normal, and it's here to stay," said Georgieva, speaking Wednesday at the Milken Institute in Washington, D.C. (quoted by the Associated Press).

The IMF Managing Director predicted only a slight slowdown in the global economy this year and next. She explained this by saying that countries have taken decisive economic measures, the private sector has adapted, and tariffs have been less severe than initially feared.

"But before anyone breathes a sigh of relief, please hear this: global stability has not yet been fully tested. And there are worrying signs that this test may be coming. Just look at the growth in global gold demand," she said.

According to Georgieva, the global economy is developing "better than feared, but worse than needed," and the IMF forecasts global economic growth of about 3% in the medium term. This is significantly lower than the 3.7% forecast before the COVID-19 pandemic.

IMF chief says global public debt will exceed 100% of GDP by 2029.

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