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BEIJING, April 29, 2022 /PRNewswire=KYODO JBN/ --

International Finance Forum (IFF) has kickstarted its 2022 spring meetings on

April 27 in Beijing with the theme of "New Global Landscape: Challenges and

Responses".

Participated by global political and financial leaders such as the

International Monetary Fund (IMF) and the Shanghai Cooperation Organization,

the forum aims to discuss the challenges faced by the global community and how

countries can work together to boost global economic governance through

international cooperation.

In a keynote speech, Pierre-Olivier Gourinchas, Chief Economist of the

International Monetary Fund, said the IMF has cut its global economic growth

forecast to 3.6% for this year due to multiple adverse factors, and that the

organization continued to hold a dim view on the global economic outlook.

Gourinchas noted that China's Covid-19 containment measures have successfully

put the number of deaths and infection cases under control over the past two

years, ensuring stable operations of economic activities.

Now, the main challenge for the world's second-largest economy is the

relatively low vaccination rate among elders aged over 75, Gourinchas said,

adding that improvement on vaccination coverage remains a key factor for global

economic recovery.

Meanwhile, when it comes to issues brought by climate change, Zhou Xiaochuan,

IFF Chairman and a former governor of the People's Bank of China, said the

financial sector should have the courage to take up certain responsibilities

with measures to tackle related problems in financing and pricing. Building a

unified carbon market is the best solution, Zhou added.

Azymbakiev Muratbek Abakirovich, Deputy Secretary-General of Shanghai

Cooperation Organization, said that the world economy continues to face the

fallout of the Covid-19 pandemic coupled with the rise of trade protectionism,

hindering the sustainable and balanced growth of the economy.

In the post-pandemic era, stable economic growth could be significantly

impacted by risks triggered by the politicization of global economic relations,

the weakening of global governance and flagging progress in international trade

reforms, Muratbek Abakirovich said. The risks caused by climate change,

resource depletion and environmental degradation will have to be managed and

controlled, he added.

Also at the event, Han Seung-soo, IFF Co-chairman and Korea's former Prime

Minister, urged the global community to overcome the upcoming global financial

crisis through tighter cooperation.

With a goal to dissect global challenges and exchange ideas on potential

solutions, the IFF spring meetings gathered world leaders to discuss how China

and the world could take actions to accelerate economic growth, while

geopolitical turbulence continues amid the pandemic, alongside intensifying

food and energy crises, and threats to the global industrial and supply chain

security.

About International Finance Forum

IFF is an independent, non-profit, non-governmental international organization

founded in Beijing in 2003. Established by financial leaders from more than 20

countries, regions and international organizations including China, the US, EU

and UN, the forum is a long-standing, high-level platform for dialogue and

communication. For more information, please visit:

http://www.iff.org.cn/php/list.php?tid=477

SOURCE  International Finance Forum (IFF)