IMF chief sees 'exceptionally uncertain' global outlook

International Monetary Fund (IMF) has urged the Group of 20 major economies to take urgent action to combat inflation, warning that the "exceptionally uncertain" global economic outlook could worsen if higher prices persisted.

IMF chief Kristalina Georgieva on Saturday warned officials from the Group of 20 major economies

Georgieva, speaking at the G20 finance officials' meeting in Indonesia, said that Russia's intensifying war in Ukraine had increased pressure on commodity and energy prices, and global financial conditions were tightening more than expected.

At the same time, pandemic-related disruptions and renewed supply chain bottlenecks continued to weigh on economic activity.

The pressure was mounting on heavily-indebted countries, and the debt situation was "deteriorating fast," she said, according to a text of her remarks.