From Al-Madina News: Kristalina Georgieva, the director of the International Monetary Fund, issued a stern warning to the globe, predicting that the global economy will experience a serious bleed over the next three years that may cost as much as $4 trillion.
In a prepared address for an event hosted by the International Monetary Fund on Thursday, Georgieva stated that the world economy was more in danger of entering a recession and that things were likely to get worse.
After the Russian-Ukrainian dispute and the Corona epidemic’s onset, the Director of the International Monetary Fund stated that uncertainty is still “extremely high” and forewarned of “the likelihood of other economic shocks developing.”
Currently, the IMF predicts that the global economy would only expand by 3.2% in 2022 and 2.9% in 2023. Georgieva, however, predicted that next week’s projections will be reduced.
The International Monetary Fund will release its revised growth projections for the upcoming year on Tuesday, Georgieva cautioned.
The Fund’s annual meetings will be held in the US capital the following week, and they will bring together finance ministers and central bank governors to discuss ways to address issues like inflation, record debt that emerging developing nations are struggling to service, climate change, and food security.
News on Sky.
IMF: The globe might suffer a $4 trillion loss.
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