The International Monetary Fund cut its global growth forecast for 2023, warning of a potential global recession next year. The IMF lowered its global growth estimates in its Oct. 11 World Economic Outlook report to 2.7 percent, which is down from its 2.9 percent outlook in July. The report said that “the slowdown of the global economy…
IMF to Slash Global Growth Forecast for 2023, Warns of Global Recession
IMF, World Bank Chiefs Issue Dire Warnings on Recession, Inflation
October 10, 2022
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In a dialogue kicking off the first in-person meetings of the World Bank and International Monetary Fund (IMF) since the pandemic, the chiefs of the two institutions warned of a series of compounding crises threatening livelihoods, including persistent inflation and a growing risk of a global recession. In a “curtain raiser” on the morning of…
IMF Approves $1.3 Billion in Emergency ‘Food Shock’ Funding for Ukraine
The International Monetary Fund (IMF) has approved Ukraine’s request for $1.3 billion in emergency funding to help the war-torn country meet its urgent balance of payments needs and preserve financial stability. The IMF’s executive board on Oct. 7 approved the funds under a new “food shock window” of its Rapid Financing Instrument (RFI). The move…
IMF Warns of Higher Recession Risk and Darker Global Outlook
October 6, 2022
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WASHINGTON—Two principal economists painted very different pictures Thursday of what the global economy will look like in the coming years. Kristalina Georgieva, managing director of the International Monetary Fund, told an audience at Georgetown University on Thursday that the IMF is once again lowering its projections for global economic growth in 2023, projecting world economic…
Global Recession Can Be Avoided With Right Fiscal Policies: IMF’s Georgieva
October 4, 2022
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RIYADH—Global recession can be avoided if governments’ fiscal policies were consistent with monetary policy tightening, but likely there would be countries falling into recession next year, the International Monetary Fund’s managing director said on Monday. In the context of monetary policy tightening, fiscal policy cannot stay idle because the cost of living crisis is hitting…
Former IMF Chief Economist Says US Is in ‘Productivity Recession,’ Inflation Is ‘Terrible’
Former IMF chief economist Kenneth Rogoff has said that the United States is in a “productivity recession” and that inflation is “terrible,” while taking aim at the Federal Reserve’s strategy to bring down the soaring cost of living. Rogoff, who is a professor of economics and public policy at Harvard University, spoke to Fox New’s “Mornings…
IMF Chief: Harsh Winter May Spark Social Unrest in EU Amid Energy Crisis
A number of countries in Europe may experience social unrest if the upcoming winter is harsh amid an economic crisis, the head of the International Monetary Fund (IMF) warned on Wednesday. “There is certainly fear of recession in some countries, or even if it is not recession, that it would feel like recession this winter,”…
IMF Again Cuts US 2022 Growth Forecast to 2.3 Percent as Consumer Spending Cools
WASHINGTON—The International Monetary Fund on Tuesday warned that avoiding recession in the United States will be “increasingly challenging” as it again cut its 2022 U.S. growth forecast to 2.3 percent from 2.9 percent in late June as recent data showed weakening consumer spending. The Fund also cut its 2023 real GDP growth forecast to 1.0…
IMF Chief Says ‘Cannot Rule Out’ Possible Global Recession
The head of the International Monetary Fund (IMF) on Wednesday said the outlook for the global economy had “darkened significantly” since April and she could not rule out a possible global recession next year given the elevated risks. IMF Managing Director Kristalina Georgieva told Reuters the fund would downgrade in coming weeks its 2022 forecast…
IMF Slashes US Growth Forecast, Sees ‘Narrowing Path’ to Avoid Recession
WASHINGTON—The International Monetary Fund on Friday slashed its U.S. economic growth forecast as aggressive Federal Reserve interest rate hikes cool demand but predicted that the United States would “narrowly” avoid a recession. In an annual assessment of U.S. economic policies, the IMF said it now expects U.S. Gross Domestic Product to grow 2.9 percent in…
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