IMF: Emerging Market Country And Development While 'Kena Hits' 3 Times

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JAKARTA - Emerging market countries and developing are being hit by stronger dollars, high loan costs, and capital outflows, a heavy threefold blow to countries with a high debt rate, according to the IMF. "In this environment, we must also support emerging markets and vulnerable developing countries," said IMF IMF Managing Director CrystallaSTA at a press conference during the annual meeting of the IMF and the World Bank, quoted from Antara, Friday, October 14. More than a quarter of developing countries have failed or have bond trade at a depressed rate, and more than 60 percent of low-income countries are at high risk, debt difficulties, according to the IMF. Bribeva said repeated shocks and growth setbacks raised a bigger question: "Are we experiencing a fundamental economic shift in the world economy, from a relatively predictable and stable world, to greater uncertainty and volatility?" For policymakers, said Embeva, this is a much more complex time, which requires a steady hand on the policy lever. "The price of policy step error, bad communication price on policy intentions, is very high." The IMF chief urged policymakers to lower inflation, implement responsible fiscal policy, and maintain financial stability. "If we want to help people and fight inflation, we have to make sure that fiscal and monetary policies go hand in hand. When monetary policy puts a brake on, fiscal policy should not step on the gas pedal -- it will make a very dangerous journey," he said. Since the pandemic began, the IMF has provided $260 billion in financial support to 93 countries. Since the Russian-Ukraine war, it has supported 18 new and additional programs with nearly $ 90 billion. "And we now have 28 additional countries expressing interest in receiving support from the IMF," The head of the IMF also called for stronger efforts to deal with food insecurity, noting that 345 million people are very food-prone. About 48 countries are heavily affected by food insecurity, most of which are in sub-Saharan Africa. The IMF recently announced a new food shock window, a mechanism that provides emergency loans to help vulnerable countries overcome food shortages and rising costs due to the Russian-Ukraine war.