Earth Science News
TRADE WARS
IMF chief hails 'productive' talks as China visit ends
IMF chief hails 'productive' talks as China visit ends
by AFP Staff Writers
Beijing (AFP) Sept 4, 2023

The head of the International Monetary Fund (IMF) on Monday praised "productive and substantive" talks with top officials in China as she wrapped up a visit to the country.

The IMF warned in July that the overall global economic recovery from the pandemic was slowing, despite slightly upgrading its outlook for world growth this year.

In China, the world's second-largest economy, the IMF has forecast 5.2-percent expansion in 2023, slightly higher than Beijing's target of around five percent.

However, growth in the Asian nation has stuttered in recent months as weak consumer demand, high youth unemployment and a crisis in the crucial property sector have chipped away at an already lukewarm post-Covid rebound.

IMF managing director Kristalina Georgieva said she had "very productive and substantive discussions with the Chinese leadership", including Premier Li Qiang, Vice Premier He Lifeng, central bank governor Pan Gongsheng and Finance Minister Liu Kun.

The group spoke about the "status of the world economy and on the developments here in China", Georgieva said in a video posted on X, the social media platform previously known as Twitter.

"We talked about measures the Chinese government is taking to bring forward the (growth) goal," the Bulgarian economist said, adding that the target was "important for China (and) important for the world".

"In a world where so many countries are vulnerable to the impact of the Covid and war shocks, it is critical that the IMF has the financial strength to help them," she said.

"I am grateful to China for recognising the role of the IMF at the centre of the global financial safety net," she said.

Georgieva said she also met the mayor of Shanghai and Dilma Rousseff, the Brazilian former president who now heads the New Development Bank, an institution founded by the BRICS emerging economies.

The IMF chief urged China's policymakers in March to seek to raise productivity and rebalance the economy away from investment and towards more durable consumption-driven growth.

mjw/je/dan

X

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
Country Garden wins vote on debt to avoid default: Bloomberg
Beijing (AFP) Sept 2, 2023
Chinese developer Country Garden has won approval from creditors to extend a deadline for a key bond repayment, Bloomberg reported Saturday, narrowly avoiding a potential default. Bondholders voted this week on whether to extend repayment terms on a key note worth 3.9 billion yuan ($535 million) into 2026. Had they voted against, the company faced a default - becoming the biggest Chinese real estate firm to do so since rival Evergrande in 2021. But bondholders late Friday agreed to extend ... read more

TRADE WARS
In Florida, residents grapple with Hurricane Idalia's toll

Biden cracks down on unlicensed gun dealers

Fukushima wastewater not toxic, says IAEA chief

Houses destroyed in Swiss landslide

TRADE WARS
From art squat to Berlin gentrification lightning rod

A system to keep cloud-based gamers in sync

Northrop Grumman delivers mini laser to US Government

Umbra selected by AFWERX for SBIR Phase II Contract

TRADE WARS
Post-Brexit UK relaxes EU water pollution rules

Fish stocks survive ocean heatwaves: study

Past abrupt changes in North Atlantic Overturning have impacted the climate system across the globe

Historic red tide event of 2020 fueled by plankton super swimmers

TRADE WARS
Study quantifies link between greenhouse gases, polar bear survival

Tides may be responsible for much of under-ice melting in an Antarctica ice shelf

Loss of Antarctic sea ice causes catastrophic breeding failure for Emperor Penguins

Scientists voyage to Greenland's melting sanctuary

TRADE WARS
Acai berry craze: boon or threat for the Amazon?

Squeezed out: Bulgaria lavender oil makers fear EU laws

'Animals are thirsty': Dust and bones on Turkey's shrinking lake

Heat stress could threaten health of one billion cows

TRADE WARS
Super Typhoon Saola sweeps towards southern China cities

Storm Idalia lashes Georgia, Carolinas after slamming Florida

Super Typhoon Saola hurtles towards southern China, Hong Kong

5.4-magnitude quake shakes Indonesian island

TRADE WARS
Statement read by Gabon officer announcing 'end of regime'

Army officers say toppled Gabon govt; China calls for Bongo safety to be guaranteed

Mali ex-rebels accuse army of more air strikes

Sudan army chief makes defiant speech, demanding end of 'rebellion'

TRADE WARS
New ancient ape from Turkiye challenges the story of human origins

ALS patient pioneering brain-computer connection

The race to link our brains to computers is hotting up

Just 5000 steps can save your life

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.