One-Third of global economy risks recession in 2023 – IMF

The International Monetary Fund, IMF, has raised an alarm that a third of the global economy risks recession in 2023.

Newspot reports that the Managing Director of the IMF, Kristalina Georgieva, disclosed this in an interview with CBS News.

She said that the rapid spread of Covid-19 in China signals a short-term economic blow.

Georgieva said: “We expect one-third of the world economy to be in recession. Half of the European Union will be in a recession this year.”

Earlier, a multinational investment bank, Goldman Sach stated that global economic growth would slow to 1.8 per cent in 2023.

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