Washington, 6 Aprul 2023 (dpa/MIA) — The International Monetary Fund (IMF) expects only low economic growth in the next few years despite a strong labour market, managing director Kristalina Georgieva said in Washington on Thursday.

"Growth remains historically weak - now and in the medium term," said Georgieva, adding that India and China would account for half of this year's global growth.

Growth is slowing in 90% of industrialized countries, including the eurozone, where according to the IMF, high interest rates will weigh on demand.

The Fund will present its new economic outlook on Tuesday at its spring meeting in the US capital. In January, it already predicted global growth of only 2.9% for this year - 0.5 percentage points less than in 2022 - due to the consequences of the war in Ukraine and continued high inflation.

But the outlook was "less gloomy" than assumed in October, the IMF said at the time.

"With geopolitical tensions on the rise and inflation still high, a robust recovery remains elusive," stressed Georgieva, who praised the strict monetary policy of the central banks. These should "stay the course" and continue their fight against high inflation.

Referring to the banking turmoil in recent months, the IMF chief said: "Today, banks are generally stronger and more resilient, and policymakers have responded in a remarkably swift and coordinated manner in recent weeks."