Fragmented world’s rival blocs may risk new cold war, says IMF head

International Monetary Fund managing director, Kristalina Georgieva, speaking on Thursday, in Washington DC, about global policy agendas. Photograph: Mandel Ngan/AFP/Getty Images

Fragmentation of the global economy into rival trading blocs runs the risk of prompting a new cold war, the head of the International Monetary Fund has said.

Kristalina Georgieva, the IMF’s managing director, said a combination of the Covid pandemic, the war in Ukraine and shortcomings with globalisation had led to a potentially dangerous splintering.