The International Monetary Fund will next week downgrade its forecast for 2.9% global growth in 2023, so says the Managing Director Kristalina Georgieva
IMF is citing rising risks of recession and financial instability as responsible for it’s turn around report.
Georgieva said the outlook for the global economy was darkening given the shocks caused by the COVID-19 pandemic, Russia’s invasion of Ukraine and climate disasters on all continents, and fears it could well get worse.
She said all of the world’s largest economies – Europe, China and the United States – were now slowing down, which was dampening demand for exports from emerging and developing countries, already hit hard by high food and energy prices.
