Shocks are new normal for weakened global economy, says IMF head

The managing director of the International Monetary Fund, Kristalina Georgieva, at the fund’s annual meeting in Marrakech, Morocco. Photograph: Susana Vera/Reuters

Shocks are becoming the new normal for an already weakened global economy, the head of the International Monetary Fund has warned, pointing to the war between Israel and Hamas as the latest cloud on a darkening horizon.

Kristalina Georgieva said the IMF had already been carrying out “thinking the unthinkable” scenario-planning even before this week’s violence in the Middle East became the latest setback to hopes of recovery.