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A third of the world will go into recession this year, according to the IMF’s president.

A third of the global economy will be in recession this year, according to the head of the IMF, who also warned that 2023 will be “tougher” than last year as the economies of the United States, the European Union, and China slow down.

Kristalina Georgieva, the head of the International Monetary Fund (IMF), made these gloomy claims on “Face the Nation” on CBS on Sunday. It comes at a time when the protracted conflict in Ukraine shows no signs of abating after more than ten months when inflation is spiralling out of control, interest rates are rising, and the Omicron variety is fueling a surge in coronavirus infections in China.

“We anticipate that one-third of the global economy will be in recession,” Georgieva stated on a news programme.

She stated that 2023 will be more difficult than 2022 because the economies of the United States, the European Union, and China will slow down.

“Even in countries that are not in recession, hundreds of millions of people will experience recession-like conditions,” she noted.

In October of last year, the IMF reduced its 2023 growth prediction.

“Global growth is anticipated to decrease from 6% in 2021 to 3.2% in 2022 and 2.7% in 2023. This is the worst growth profile since 2001, except for the global financial crisis and the acute period of the COVID-19 pandemic, according to the report.

China has abandoned its zero Covid policy and opened its economy in response to a surge of anti-government demonstrations.

“For the next couple of months, it will be difficult for China, and the impact on Chinese growth will be negative, as will the impact on regional and world growth,” she added.



Hi, my name is Nisha and I'm an educational journalist based in India. I've always been passionate about the power of education to transform lives, and that's what led me to pursue a career in journalism focused on this area. I completed my Bachelor's degree in English from Hindu College in Delhi in 2013 and then went on to earn my Master's in Journalism and Mass Communication from the Indian Institute of Mass Communication in 2017. During my studies, I also completed several short-term courses on Education in India, Sociology, and other related subjects to deepen my knowledge in this field. I'm particularly interested in improving access to quality education in rural areas, where students often face significant challenges. I've worked on a number of initiatives to address this issue, including advocating for better policies, resources, and practices that can make a difference. As an educational journalist, I'm passionate about using my platform to highlight important issues in the education space. I've covered a wide range of topics, including the impact of technology in the classroom, innovative approaches to teaching and learning, and the challenges facing students from marginalized communities. One of the things I love most about my work is the opportunity to constantly learn and grow. I'm an avid reader and believe that reading is key to expanding one's knowledge and perspective. I'm always seeking out new ideas and insights to help me better understand the world around me. In summary, as an educational journalist, I'm dedicated to using my skills and expertise to make a positive impact in the field of education. I'm committed to improving access to quality education for all students and to using my platform to raise awareness about important issues in this area.

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