Change Your Mindset: The IMF’s Call for Resilience in a Shock-Prone World

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that we need to “think of the unthinkable,” as we live in “a more shock-prone world” impacted by the Covid-19 pandemic, Russia's invasion of Ukraine, and the recent earthquake across Syria and Turkey.^[0]

Georgieva made the comment during a World Government Summit panel hosted by CNBC's Hadley Gamble on Tuesday.

“We all have to change our mindset to be much more agile and much more oriented towards building resilience at all levels, so we can handle the shocks better,” she said.^[0]

Georgieva expressed that the world has been deprived of a great peace dividend due to Russia's invasion of Ukraine, causing nations to prioritize defense over domestic concerns such as healthcare and infrastructure.^[0]

She went on to say that in Ukraine, people feel passionately that they are not just fighting for themselves, but also for the right of all nations to live and govern themselves.^[1]

She remarked, “No longer can we assume peace will remain.”^[0]

The Managing Director of the IMF's call to action is a reminder that the world is a very different place after crises like Covid and as a result, we need to be more prepared and resilient in order to face similar shocks in the future.

0. “IMF chief warns world is a very different place after crises like Covid” Business Standard, 14 Feb. 2023, https://www.business-standard.com/article/international/imf-chief-warns-world-is-a-very-different-place-after-crises-like-covid-123021402250_1.html

1. “‘Think of the unthinkable': IMF chief warns world is a very different place after crises like Covid” msnNOW, 14 Feb. 2023, https://www.msn.com/en-us/money/markets/think-of-the-unthinkable-imf-chief-warns-world-is-a-very-different-place-after-crises-like-covid/ar-AA17swC3