International Monetary Fund Managing Director Kristalina Georgieva (Photo: AFP/VNA)

Georgieva said the three most significant challenges were the Russia-Ukraine conflict, the cost of living crisis, and interest rates at a level unseen in decades. She added that the world must manage the adjustment to greater security of supply wisely.

Regarding the possibility of central banks cutting interest rates, Georgieva said that the time is not yet because inflation is slowing but is still at a relatively high level. She warned central banks not to cut interest rates too soon.