Kristalina Georgieva

So our message to everybody is...

Be calm.

And to China, be careful.

Do not provoke other countries to see you as a threat to their economies.

When we look at the prospects for the world economy, they're underwhelming.

Growth is slow, debt is high.

And who leads on the debt front?

Advanced economies.

They have borrowed to meet the needs of people during COVID, when we had the shock from Russia's war in Ukraine.

Now they need to pull back what they're providing as support, and it is very difficult.

People like receiving.

They don't like losing what they have got.

So we see everybody recognizing that debt needs to go down, that fiscal consolidation needs to take place.

Here in the United States, Secretary Besant says we need to get to 3% deficit.

But acting on these intentions is hard.

where I want to shout bravo to Italy.

Traditionally, Italy was a country that was seen as having real difficulty to tighten up.

Now they are very likely to go below 3% deficit next year.

So there are some bright spots.

Greece is a fantastic story.