IMF chief Kristalina Georgieva (Photo: VNA)

In a speech ahead of the fund's annual meetings next week, the IMF's managing director said it was critical to "stabilize the global economy by addressing the most immediate challenges", including rampant inflation.

Georgieva said the IMF plans to once again downgrade its 2023 forecast for the world economy before next week's meeting. This will be the first in-person meeting of the IMF and the World Bank since the COVID-19 pandemic began.