International Finance Forum Launches 2022 Spring Meetings, Calls for Cooperation on Global Challenges

BEIJING, April 29, 2022 /PRNewswire/ — The International Finance Forum (IFF) kicked off its Spring 2022 meetings on April 27 in beijing on the theme “New global landscape: challenges and responses”.

Attended by global political and financial leaders such as the International Monetary Fund (IMF) and the Shanghai Cooperation Organization, the forum aims to discuss the challenges facing the global community and how countries can work together to strengthen global economic governance through international cooperation.

In a keynote speech, Pierre-Olivier Gourinchas, chief economist of the International Monetary Fund, said the IMF had lowered its forecast for global economic growth to 3.6% for this year due to multiple headwinds, and that the organization continued to have a low opinion. on the global economic outlook.

Gourinchas noted that China The Covid-19 containment measures have succeeded in bringing the number of deaths and infection cases under control over the past two years, thus ensuring the stable operation of economic activities.

Now, the main challenge for the world’s second-largest economy is the relatively low vaccination rate among people aged over 75, Gourinchas said, adding that improving vaccination coverage remains a key driver for global economic recovery.

Meanwhile, regarding the issues posed by climate change, Zhou Xiaochuan, chairman of the IFF and former governor of the People’s Bank of China, said the financial industry should have the courage to shoulder some responsibility by taking steps to address related funding and pricing issues. Building a unified carbon market is the best solution, Zhou added.

Azymbakiev Muratbek Abakirovich, deputy secretary general of the Shanghai Cooperation Organization, said the global economy continues to face the fallout from the Covid-19 pandemic coupled with rising trade protectionism, hampering sustainable and balanced growth. economy.

In the post-pandemic era, stable economic growth could be significantly affected by the risks triggered by the politicization of global economic relations, weakening global governance and slow progress in international trade reforms, Muratbek said. Abakirovich. Risks caused by climate change, resource depletion and environmental degradation will need to be managed and controlled, he added.

Also at the event, Han Seung-soo, co-chairman of IFF and former Korean prime minister, urged the global community to overcome the upcoming global financial crisis through closer cooperation.

With the aim of dissecting global challenges and exchanging ideas on potential solutions, the IFF Spring Meetings brought together world leaders to discuss how China and the world could take steps to accelerate economic growth, as geopolitical turmoil continues amid the pandemic, alongside escalating food and energy crises and threats to industrial and supply chain security world.

About the International Financial Forum

The IFF is an independent, non-profit, non-governmental international organization founded in beijing in 2003. Established by financial leaders from more than 20 countries, regions and international organizations, including China, the United States, the EU and the UN, the forum has long been a high-level platform for dialogue and communication. For more information, please visit: http://www.iff.org.cn/php/list.php?tid=477

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SOURCE International Financial Forum (IFF)

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