The AP Interview: IMF head urges China to end mass lockdowns

By DAVID McHUGH
AP Business Writer

BERLIN (AP) — The head of the International Monetary Fund says it’s time for China to move away from mass lockdowns under its “zero-COVID” approach. Kristalina Georgieva said in an interview Tuesday with The Associated Press that a “recalibration” of the tough approach could shift to more targeted restrictions. That would be easier on the Chinese people and reduce spillover effects on the global economy. She also said it’s not time yet for the U.S. Federal Reserve to ease off on its rapid interest rate increases. High inflation numbers in the U.S. and Europe mean its “too early to step back.” She said the Fed “has no option but to stay the course” until there’s a credible decline in inflation.