Davos, Switzerland – Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has cautioned that global inflation, while easing, is not yet fully contained.

Speaking at the World Economic Forum in Davos on Thursday, Georgieva likened the current state of inflation to the genie trapped in a lamp. “The genie’s head and most of its body are still in the lamp, but its foot is still out,” she said. “We need to push that foot back in.”

Georgieva acknowledged that policymakers worldwide have made significant progress in tackling inflation without triggering a recession. However, she emphasized that more work needs to be done. "We've made a lot of progress, but we're not out of the woods yet," she added.

Despite the persistent inflationary pressures, the IMF chief expressed optimism about the global economy. She forecast 3.3% growth for both this year and the next. "Inflation is coming down, and while it's not at the target yet, it's getting close," Georgieva said.