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Global Recession: In the next year 2023, many countries of the world may have to face the situation of recession. Kristalina Georgieva, chief of the International Monetary Fund, has given this warning. He said that next year a third of countries may face challenges similar to the situation of recession for two quarters. He said that the IMF is preparing to reduce its economic projections in such a situation.
Before the annual meeting of the IMF and the World Bank, Kristalina Georgieva said that the fall in people’s income and rising inflation means that many countries will be facing recession. It is being speculated from these statements of the IMF chief that she may reduce the economic estimates for the fourth quarter.
The pressure of inflation is increasing due to Russia’s attack on Ukraine, high energy prices and high food prices. He said that the pace of development of all the major economies of the world is slowing down. He said that the situation will go from bad to worse in the short term. He has also expressed concern about the financial risk that is being created in the property market of China.
The IMF believes that to deal with inflation, central banks around the world should continue the step of strict monetary policy. He said that the big impact of expensive food items is being seen on the emerging economies, due to which the debt crisis is increasing on these countries. Kristalina Georgieva said that this crisis which has come on the global economy is not going to last forever.
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