IMF warns of higher recession risk and darker global outlook

The institution downgraded its global growth projections already three times, to 3.2 per cent for 2022 and now 2.9 per cent for 2023.

International Monetary Fund Managing Director Kristalina Georgieva speaks on the global economic outlook and key issues to be addressed at this month's IMF and World Bank Annual Meetings, at Georgetown University in Washington, Thursday, Oct. 6, 2022. (AP Photo/J. Scott Applewhite)

The International Monetary Fund is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by USD 4 trillion through 2026.

Kristalina Georgieva, managing director of the IMF, told an audience at Georgetown University on Thursday that “things are more likely to get worse before it gets better”.

Georgieva said the institution downgraded its global growth projections already three times, to 3.2 per cent for 2022 and now 2.9 per cent for 2023.

Stay updated with the latest - Click here to follow us on Instagram

Tags:
IMF

Trump announces TikTok deal, surprise China visit ‘early next year’ after call with Xi

World2 min ago

Trump and Xi had a successful phone call, addressing trade, Fentanyl, and TikTok. They plan to meet at APEC Summit and for Trump to visit China, with Xi visiting the US. Congress wants TikTok to sell its US assets or shut down, but Trump has not enforced this due to the app's value and progress.

View all shorts

Live Blog