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IMF Chief Forecasts That 2023 Will be Tougher for Several Countries

IMF Chief Forecasts That 2023 Will be Tougher for Several Countries

The Managing Director of, the International Monetary Fund, IMF, Kristalina Georgieva has gravely stated that the year 2023 will be tougher than 2022 for most of the world economies as the United States, European Union, and China are currently observing slowing growth.    

Georgieva announced an appearance on a CBS program, on Sunday, December 1, warning that 2023 will be a tougher year, with one-third of the world’s economies expected to be in recession within the year.

This is coming after the IMF had in October cut its global growth forecast to 2.7 percent, down from the 2.9% forecasted in July. 

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Georgieva had also said that China, the world’s second-largest economy, is expected to potentially grow at or below global growth for the first time in about 40 years as COVID-19 cases increase following the dismantling of its ultra-strict zero-COVID policy.

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