“Actually, what is happening now is a lot better than we expected. The global economy is more resilient. Inflation is coming down in most countries, and generally, we are getting to a very soft landing,” he said.
“Prospects are improving, which is very positive, but numerous challenges remain, and we need to be vigilant,” added the chair.
“This is very important to make sure that the way forward we are all collectively working in a cooperative manner to deal with the challenges that we face. In precautionary balances, we are expected to reach medium-term targets of SDR $25 billion for the first time this month. This is a target that we set for ourselves about 15 years ago, and achieving it this month is really good. It basically provides a very good buffer to support membership and deal with shocks,” he explained.
The Spring Meetings of the International Monetary Fund and the World Bank Group kicked off on April 15.
At the heart of the gathering are meetings of the joint Development Committee and the IMF's International Monetary and Financial Committee, which discuss progress on the work of the World Bank Group and the IMF.