IMF chief warns world heading towards age of greater instability

Kristalina Georgieva points to fundamental shift', with fragile global ties and more frequent natural disasters

The world faces growing recession risks and a fundamental shift" away from relative stability to an age of breakdown in international relations and more frequent natural disasters, the head of the International Monetary Fund has warned.

Kristalina Georgieva, the IMF's managing director, said a succession of economic shocks had unleashed persistently high inflation, prompting a cost of living crisis in countries around the world.