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Governments should subsidise food and energy - IMF boss

Kristalina Georgieva, the head of the International Monetary Fund

22 May 2022 06:50 (UTC +04:00)

Governments need to subsidise the cost of food and energy for the poorest members of society, said the head of the International Monetary Fund (IMF), APA reports citing BBC.

People around the world are struggling with the rising cost of living.

Kristalina Georgieva said support needs to be provided "in a very targeted manner, preferably by providing subsidies directly to people".

Many governments are providing some help, but critics argue its not enough.

When it comes to the cost of living crisis, Ms Georgieva said: "There are two priorities, one the very poor people, segments of society that are now struggling with high food and energy prices".

The second, she added, is to support those businesses that have been "most damaged" by the war in Ukraine.