The challenge is more difficult with public opinion moving in favor of expanded fiscal support, she said. Increased geopolitical conflicts and shifts away from liberalized trade are also troubling, she said.
"Governments must work to reduce debt and rebuild buffers for the next shock -- which will surely come, and maybe sooner than we expect," Georgieva said. "This will involve difficult choices on how to raise revenues and make spending more efficient, while also making sure that policy actions are well-explained to earn the trust of the people."
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