IMF chief says world may split into rival economic blocs as growth at historic low

WASHINGTON, May 5 — International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned yesterday that the world may split into rival economic blocs, at a time when global growth is at a historic low both in the near and medium term, reported Sputnik.

“After decades of increasing global integration, there is a growing risk that the world may split into rival economic blocs ... This risk is rising at a time global growth is weak by historical standards — both in the near and medium term,” Georgieva said at the Brussels Economic Forum.

Such a scenario would be bad for everyone, including for people in Europe, she added. — Bernama-Sputnik