IMF Managing Director on Global Economic Recovery

KRISTALINA GEORGIEVA, MANAGING DIRECTOR, INTERNATIONAL MONETARY FUND: Indeed, we expect a better year ahead. We have upgraded our protections for 2021, not by much, from 5.2 to 5.5 percent. And it is on the grounds of, of course, vaccines now being available, but also on relentless support from central banks and from finance authorities, and the fact that we have learned to function better with the pandemic still around us. This being said, there are very heavy clouds of uncertainty over the world economy. And if I were to give you my take on what to watch for in 2021, first, the race between a mutating virus and multiple vaccines. And this race ought to be won everywhere if we are to succeed. Second, the resolve of policy-makers to continue to support the most vulnerable people, the most vulnerable parts of the economy, until we see the health crisis in the rearview mirror, and the resolve to use this crisis as an opportunity to shift to green, a digital, fairer growth in the future. And I wouldn’t do my job if I don’t give you the third R in this ’21 equation, and it is reinvigorated global corporation. There’s a better chance in 2021 to come together.

CHRISTIANE AMANPOUR: And is that because — why do you think there’s better chance for reinvigorated corporation? Is that because of the change in administration in the United States, with different view on that issue?

GEORGIEVA: Because we are now seeing a much more engaged world on the very big challenges we face, more engaged on climate. Remarkably, in 2020, many of us worried that we would lose sight of this looming climate crisis. The opposite happened. There is much more determination to take a green turn. The fact that we have a much more engaged internationally U.S. — this is the largest economy — their engagement matters. And also that we now have a better understanding of the world how interdependent we are.