IMF: global economy faces 'its biggest test' since WWII

Head of the IMF Kristalina Georgieva has warned at the start of the World Economic Forum in Davos that the global economy faces perhaps its “biggest test since the second world war”.

The IMF managing director urged countries not to “surrender to the forces of geoeconomic fragmentation that will make our world poorer and more dangerous”.

Georgieva urged all countries to lower barriers to trade, help countries in debt distress and modernise cross-border payments systems. But she warned: "There is no silver bullet to address the most destructive forms of fragmentation."