2024-01-15 21:35:00
In 2024, half the world’s population will go to the polls, with approximately 80 countries holding elections.
The Director-General of the International Monetary Fund, Kristalina Georgieva, warned on Sunday of the danger of exceeding budgets in many countries that will witness the organization of elections.
Georgieva noted that “regarding 80 countries will hold elections, and we know what is happening, and the pressure that accompanies spending during election cycles,” but stressed that “countries need to replenish their budgets and manage the accumulated debt” to confront the various shocks since the Covid-19 pandemic.
The Director of the International Fund believed that the global economy was more solid; Which was expected in 2023, which allowed countries to achieve savings, but efforts must continue, while “the economy is supposed to witness a smooth decline,” following the peak of inflation recorded during the last two years.
She explained that the year 2024 must be devoted to “implementing the lessons learned from past years, and always being prepared to confront the unexpected,” which requires a margin in the general budget, and this, she emphasized, is not available in many countries following repeated crises. Printed the last three years.
This is necessary in light of the fact that the debts of all countries have risen significantly, creating difficulties in the most vulnerable ones, but also in many emerging countries, which face obstacles to repayment with the high interest rates.
However, “the debt problem in some countries has taken a tragic turn, either because they have gone bankrupt or because they are forced to allocate a large portion of their income to pay off their debts,” which limits their ability to invest and finance basic services.
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