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After taking office on October 1, Georgieva bluntly stated in her inaugural speech that trade tensions had "severely weakened" global manufacturing and investment activities.
"Services and consumption can be affected very quickly, which is a serious risk," she said.
The cumulative effect of trade conflicts could mean a reduction of $700 billion, or about 0.8%, in global gross domestic product by 2020. Georgiyeva said she had disclosed in advance some of the results of a new IMF study to be released at the IMF and World Bank annual meetings next week.
"In this context, the output of the Swiss economy as a whole is evaporated in one year," added Georgieva.
The study takes into account the actions announced by US President Trump and planned to impose tariffs on the remaining 300 billion US dollars of Chinese imports to the United States. She said that the main reasons for the decline in GDP were the decline in business confidence and the negative reaction of the market.
"In 2019, we expect nearly 90% of global regional growth to slow down. The global economy is currently showing a simultaneous slowdown. This means that this year's economic growth will slow to its lowest level since the beginning of this decade, "said Georgiyeva.
She said this contrasts sharply with the situation two years ago, when there was no trade war between China and the United States, and economic growth in countries that accounted for nearly 75% of global output was accelerating.
Georgiyeva, a Bulgarian economist, was a former EU official and the No. 2 figure in the World Bank. Georgiyeva said trade was "close to stagnation".

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