The IMF president predicted that this year will see a third of the world’s countries in recession and warned that 2023 will be “tougher” than last year due to the slowing of the economies of the US, EU, and China.
The head of the (IMF), Kristalina Georgieva, delivered these sobering statements on Sunday during the CBS news programme “Face the Nation.”
It occurs at a time when the current crisis in Ukraine. This has lasted for more than ten months, is showing no signs of ending. As well as when there is a spike in coronavirus infections in China. Due to the Omicron strain, spiralling inflation, and increased interest rates.
On the television show, Georgieva stated, “We anticipate that one-third of the global economy will be in recession.
The weakening economies of the US, the EU, and China. She predicted that 2023 will be more difficult than last year.
“Even in nations that are not in a recession, it would feel like a recession for hundreds of millions of people,” she said.
Also Read: Global Warning: Year 2023 may witness another recession
