Description
Added on the 19/01/2023 15:45:00 - Copyright : France 24 EN
IMF chief Kristalina Georgieva warns that if central banks move too aggressively to tamp down price pressures, it could trigger a "prolonged" economic downturn. SOUNDBITE
IMF chief Kristalina Georgieva warns the global recession risks are rising and urges policy action "to regroup and to rethink how can we adopt a more proactive precautionary mindset that we had in the past." SOUNDBITE
The International Monetary Fund slightly lowers its outlook for the global economy, predicting the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January. SOUNDBITE
The head of the IMF warns that Western subsidies to combat climate change and encourage the transition to clean energy sources risk hitting developing and emerging markets. "My biggest concern is that something that in principle is very good to accelerate the transition to the green economy by using public money to step up private investment... may not serve well the emerging markets and the developing world," Kristalina Georgieva says at the World Economic Forum in Davos. SOUNDBITE
The World Trade Organization on Wednesday dramatically lowered its global trade forecast for 2023, as Russia's war in Ukraine and other shocks take their toll on the world economy. 'Today the global economy faces multi-prong crises. Monetary tightening is weighing on growth across much of the world,' WTO Director-General Ngozi Okonjo-Iweala told reporters in Geneva. SOUNDBITE
Surging inflation and severe slowdowns in the United States and China prompted the IMF to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse. SOUNDBITE