The head of the International Monetary Fund invoked Winston Churchill as she urged governments to prepare for the next global economic shock. Kristalina Georgieva urged countries to lower borrowing and slash red tape to revive growth as she warned the world was becoming more shock-prone than ever before. “There is plenty to worry about,” she told reporters at the International Monetary Fund’s headquarters in Washington. Ms Georgieva urged countries to rebuild their rainy day funds and get debt down as she warned that the medium term prospects for global growth were at their lowest in decades. She said: “In a world where crises keep coming, countries must urgently built fiscal resilience.” She added: “We know we will be tested again”. Quoting the former British prime minster, she added: “This is no time for ease and comfort. It is time to dare and endure.” Sir Winston made the comment during a speech in 1940 at the height of the Second World War. Ms Georgieva warned that global debt levels were far higher than before the pandemic and compared the trajectory of global growth to a “Swiss ski slope” with prospects dimming every year. Ms Georgieva said countries should do more to...