Conference Presentation, Fireside Chat, Interview, Panel
A Conversation with IMF Managing Director Kristalina Georgieva | Global Conference 2024
- The 2024 Milken Institute Global Conference will convene over 1,000 speakers across three days for more than 200 sessions covering finance, health, philanthropy, and geopolitical topics.
- Cybercrime is projected to reach $10 trillion, while nearly 2.6 billion people, approximately one-third of the global population, currently lack internet access.
- Annual philanthropic capital is expected to deploy at a scale of $2 trillion every couple of years.
- The Milken Institute will award the $1 million Milken-Mozepi Prize later in the conference to a team addressing green technology needs in Africa.
- IMF Managing Director Kristalina Georgieva will serve a second term extending until 2029, covering the entirety of the 2020s decade.
- The global economy is forecast to experience 3.2% growth this year with slowly declining inflation, with US inflation projected to reach its target within the year.
- The Federal Reserve is expected to begin cutting rates later this year, and the US economy will likely attract financial flows amounting to one-third of global money movement.
- Risks include energy price disruptions and supply chain distortions potentially derailing the downward inflation trend and positive growth trajectory.
- The IMF plans to engage China on policies to expand market forces, address real estate issues more forcefully, and shift the economy toward domestic consumption.
- Trade restrictions are projected to reduce the world economy's GDP by between 0.2% and 7%, with a 75% probability that restrictive measures by one country will be reciprocated.
- Weak growth of around 3% is projected for the remainder of the decade, falling below the pre-pandemic average of 3.8%.
- The 2020s are anticipated to present a mixed landscape where some economies transform, others stagnate, and regions face perpetual turbulence across advanced, emerging, and low-income countries.
- Policymakers are expected to implement course corrections as current industrial policies are perceived as resembling a trajectory toward a cliff.