The head of the IMF on Friday urged advanced economies to provide more resources to low-income countries, warning that an emerging “Great Divergence” in global growth that could risk stability and trigger social unrest for years to come, Trend reports citing Reuters.
International Monetary Fund Managing Director Kristalina Georgieva told reporters that 50% of developing countries were at risk of falling further behind, which raised concerns about stability and social unrest.
To avert bigger problems, she said rich countries and international institutions should chip in more. But heavily indebted poor countries should also seek debt restructuring sooner rather than later, and needed to boost conditions for greater growth, she said.