BAKU, Azerbaijan, July 15, The International Monetary Fund’s new strategy chief, Christian Mumssen, has urged governments to maintain credibility in fiscal and monetary policy to ensure price stability during a period of heightened global economic uncertainty.
Speaking at an event hosted by the Atlantic Council, Mumssen highlighted the rapid succession of major economic shocks in recent years, including the COVID-19 pandemic, cost-of-living crises, trade frictions, and wars in Ukraine and the Middle East.
“Technologically, artificial intelligence and digital finance are advancing at a speed few of us anticipated. And geopolitically, the post-war global order is giving way to a more fragmented, multipolar world,” he said. “The global economy has proved remarkably resilient in the face of these forces. But the sheer scale of what is under way creates an exceptionally high degree of uncertainty — and we should expect the unexpected.”
Mumssen stressed that governments need to pay close attention to sound public finances, debt management, inflation, employment, and economic growth. He added that frequent supply disruptions could pose a serious threat to price stability worldwide.
The IMF official’s remarks underline the importance of strong fiscal and monetary policies as countries navigate a complex and unpredictable global economic landscape.
