DAVOS: International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Friday that the economic outlook was less bad than feared a couple of months ago.

Georgieva told a panel of the World Economic Forum (WEF) annual meeting that what had improved was the potential for China to boost growth and that the IMF now forecast Chinese growth of 4.4% for 2023.

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She said, however, she saw no “dramatic improvement” in the current IMF 2023 global growth forecast of 2.7%. Georgieva said that the war in Ukraine remained a “tremendous risk” for confidence, particularly in Europe.