International Monetary Fund (IMF) Managing Director Kristalina Georgieva underscored on Thursday that global inflation is easing, with the world economy gradually returning to a state of price stability.

"This has been done without tipping the global economy into recession and large-scale job losses," Georgieva said ahead of the IMF-World Bank Annual Meetings, stressing that both the United States and Europe labor markets are "cooling in an orderly manner." However, Georgieva cautioned against any premature celebrations, noting that while inflation rates are declining, elevated price levels are "here to stay."

The IMF managing director also underlined that a "difficult geopolitical environment" could destabilize regional economies and global oil and gas markets.