The outlook for the global economy is becoming increasingly bleak this year. That is why the International Monetary Fund (IMF) will have to lower its growth expectations again next week, top woman Kristalina Georgieva said in a speech at Georgetown University.
It is not the first time this year that the fund has adjusted its forecasts. “We’ve already cut our growth forecasts three times, to just 3.2 percent for 2022 and 2.9 percent for 2023. And as you’ll see in our updated World Economic Outlook (WEO) next week, we’ll see growth for next year. to lower.”
In her speech, she pointed out, among other things, the consequences of rising interest rates and high inflation. The latter cannot be seen in isolation from the war in Ukraine, the many sanctions that have been imposed against Russia and the uncertainty about gas supplies from that country.
As a result, the risk of a recession has risen sharply everywhere. “We estimate that countries that account for about a third of the global economy will experience at least two consecutive quarters of contraction this year or next,” Georgieva said.
