The Strategist

IMF head expects global recession in 2023

07/07/2022 - 03:45

IMF chief Kristalina Georgieva stated that she could not completely rule out likelihood of a worldwide recession in 2023.

World Bank Group
World Bank Group
She told Reuters in an interview that "the outlook has deteriorated dramatically since our last update." Georgieva listed the spread of inflation, China's sluggish economic growth, and sanctions against Russia as issues facing the world economy.

Georgieva noted that there is now a greater chance of a worldwide recession and that she cannot rule it out.

"Although 2022 will be a challenging year, 2023 will likely be even harder. Higher chances of a recession in 2023," added she.