IMF Director: Saudi Arabia’s 2030 vision example of economic transformation possibility

The International Monetary Fund's (IMF) Managing Director Kristalina Georgieva said on Sunday, that Saudi Arabia's 2030 Vision is a clear example of the possibility of all countries to shift the tides and economically transform. During the World Economic Forum's (WEF) conference, under the title "A New Vision for Global Development" Georgieva explained that as it stands, the contrast in economic stability across countries is too great, so the seeds of economic growth must be distributed equally among all countries. She continued that there are currently 800 million people in the world suffering from famine, "we failed to share the benefits of the growing economies with other parts of the world." The world is facing to two issues, Georgieva said, that despite the 3.2 percent growth in the global economy last year it is still a weak increase compared to historical standards, and the second is the big gap in progression and growth across countries. Some countries show stable economic growth whereas others are falling behind if we do not find a solution for these two issues, we will face major challenges in the future and history will tag this decade as unstable, she continued. Source: Kuwait News Agency