The International Monetary Fund (IMF) opted this Thursday for the countries to respond to the multiple crisis open, from the effects of the war in Ukraine to skyrocketing inflation, without abandoning the objectives of fiscal sustainability in the medium and long term.
At a press conference after the meeting of the organization’s Financial and Monetary Committee (FMIC), chaired by the First Vice President of the Spanish Government and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, the Fund assured that it is not about choosing between alternatives.
“It is not a question of having to bet on one thing or the other. We must be very effective, responding in a coordinated and firm manner to any risk and crisis without losing sight of the long-term goals of financial stability and fiscal sustainability,” Calviño replied when asked by Efe.
The first vice-president was accompanied in her appearance by the managing director of the IMFthe Bulgarian Kristalina Georgieva, who agreed that countries must maintain the capacity to deal with crisis but ensuring that its implementation occurs in a “wise” way.
“We must focus on the most vulnerable populations and parts of the economy, but anchoring the plans in a framework of fiscal sustainability in the medium term,” said the economist.
Georgieva also explained that there are ways to fight against crisis temporary as the consequences of the war in Ukraine while advancing long-term goals such as the fight against climate change.
In this sense, he pointed to the conversion to renewable energy sources as a way to guarantee energy security and mitigate the impact of the high prices of natural gas and oil.
