scorecardresearch
Friday, Mar 29, 2024
Advertisement

IMF chief Kristalina Georgieva says global recession not expected

Speaking Monday at the World Economic Forum’s annual gathering, Kristalina Georgieva reminded the audience that the IMF is forecasting 3.6% growth for 2022, which is “a long way to global recession.”

IMF Managing Director Kristalina Georgieva speaks at the Global Women's Forum in Dubai, United Arab Emirates, February 16, 2020. (Reuters)IMF Managing Director Kristalina Georgieva speaks at the Global Women's Forum in Dubai, United Arab Emirates, February 16, 2020. (Reuters)

The managing director of the International Monetary Fund says a global recession isn’t in the cards but “it doesn’t mean it’s out of the question.”

Speaking Monday at the World Economic Forum’s annual gathering, Kristalina Georgieva reminded the audience that the IMF is forecasting 3.6% growth for 2022, which is “a long way to global recession.”

A moderator opened a discussion about the global economy by asking the audience if they thought there was a chance of a recession. Most of the crowd of about 100 put their hands up.

Advertisement

Georgieva says the global outlook was “a little bit like the weather here in Davos — the horizon has darkened.”

She says it’s going to be a “tough year” and that one of the big problems is surging food prices, partly fueled by the Russia-Ukraine war.

Festive offer

Georgieva listed a host of other challenges, including rising interest rates, inflation, the strengthening dollar, a slowdown in China, the climate crisis and a recent “rough spot” for cryptocurrencies.

Other speakers on the panel debated whether Europe would fall into recession after the European Central Bank signaled that it would start tightening monetary policy.

 

First uploaded on: 23-05-2022 at 22:11 IST
Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement
close