Global-recession-will-hit-a-third-of-the-world-this-year

1. #global economy #IMF #International Monetary Fund #recession #inflation #economy Global recession will hit a third of the world this year, says IMF chief Due to slowdowns in the economies of the US, the EU, and China, 2023 will be tougher than last year. In an interview with CBS News, Kristalina Georgieva, the chief of the International Monetary Fund (IMF), made these grim observations on "Face the Nation. Despite the ongoing conflict in Ukraine, spiraling inflation, rising interest rates, and a surge in Coronavirus infections caused by an Omicron variant in China, the conflict is showing no signs of abating. According to forecasts, the global economy will grow by 3.2 percent in 2022 and 2.7 percent in 2023, down from 6.0% in 2021. When an economy fails to grow, investors will pull money out, leaving countries, especially the poorest ones, with less cash to pay for imports such as food. The world economy is expected to be in recession for one-third of the time. Even countries without recession would feel like they were in recession, especially in the developing world." For more updates and news, visit at Website Twitter Medium Tumblr Instagram