The director-general of the International Monetary Fund (IMF), Kristalina Georgieva, warned that a third of the world economy will fall into recession this year, including half of the European Union.
“For most of the world [2023] it’s going to be a tough year, tougher than the one we left behind,” as the three major economies — the United States, the European Union and China — “slow down simultaneously,” Kristalina Georgieva said in an interview with CBS.
The director-general predicts that half of the countries of the European Union, whose economies have been “hard hit” by the war in Ukraine, will fall into recession by 2023.
In contrast, Kristalina Georgieva sees the US economy as “more resilient”, demonstrating confidence that the country can help “keep the world in a very difficult year”.
With regard to China, the official says the effects of its ‘zero covid’ policy will make its economic growth “equal to or lower” than world growth, negatively impacting its economy, that of the region and the world in general.
Source: DN
