According to Managing Director Kristalina Georgieva on Thursday, the International Monetary Fund will next week lower its projection for 2.9% global growth in 2023 due to growing risks of a recession and financial instability. Given the shocks brought on by the COVID-19 epidemic, Russia's invasion of Ukraine, and climate disasters on every continent, Georgieva claimed that the prognosis for the world economy was "darkening" and would even grow worse. In a speech at Georgetown University, she said, "We are experiencing a fundamental shift in the global economy, from a world of relative predictability... to a world with more fragility - greater uncertainty, higher economic volatility, geopolitical confrontations, and more frequent and devastating natural disasters."
#imf #recession #englishnews
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