The International Monetary Fund (IMF) predicted on Sunday that the global economy would be in recession in 2023, noting that the escalation of coronavirus cases in China are carrying ābad news.ā
IMF President Kristalina Georgieva said in remarks broadcast this evening that 2023 will be difficult for most of the global economy, indicating that the International Monetary Fund expects a third of the global economy to enter a recession during 2023.
Half of European economies will enter recession, she said, noting that the increase in Covid infections in China is worrying news for the global economy in the near term.
Georgieva pointed out that the prospects for emerging economies are worse because of debt levels and the strength of the dollar, pointing out that the future prospects for emerging markets are more dangerous due to debt levels and the strength of the dollar.
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