IMF tells governments to protect vulnerable people when tackling Covid debt

The IMF said governments should prioritise well-targeted support for vulnerable people, including refugees. Photograph: Jeff J Mitchell/Getty Images

Gloom at the International Monetary Fund is nothing new. Since last summer the body responsible for stabilising and supporting the world economy has been growing ever more pessimistic.

First it was rising inflationary pressures caused by supply-side bottlenecks. Then it was the arrival of the new Omicron variant towards the end of 2021. Now it is the war in Ukraine, something not anticipated when the Washington-based organisation last published its assessment in January but which dominates the IMF’s world economic outlook.