'It is important to think that this compounded impact of multiple crises is already testing the patience and resilience of people.'
There will be “people on the street” globally unless steps are taken to protect the most vulnerable from inflation, International Monetary Fund’s chief Kristalina Georgieva warned on Wednesday. “It is important to think that this compounded impact of multiple crises is already testing the patience and resilience of people. And if you don’t take action to support the most vulnerable, there would be consequences,” she told CNN’s Christiane Amanpour.
Events that have driven price increases—mainly the Omicron variant of Covid-19 and Russia’s invasion of Ukraine—have “made inflation today our biggest enemy,” the IMF chief told Amanpour. “This year is tough, next year tougher. Why? Because of a shock upon shock upon shock. In just a short three years: the pandemic , the war, Russia’s invasion pushing energy and food prices up, and then the result is a cost of living crisis,” she told CNN.
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