“Blemish” forecasts for the IMF: The world is on a date with recession

[yota691]

 

“Blemish” forecasts for the IMF: The world is on a date with recession

 

 2022-07-07 01:30

 

Shafaq News/ The Director of the International Monetary Fund, "Kristalina Georgieva", did not rule out a global recession next year, in light of the current huge risks, and said in a press statement today, Thursday, that the outlook for the global economy has "worsened a lot" since April.

According to "Gorgieva", the Fund will reduce in the coming weeks its forecast for a growth of 3.6% in the global economy for the third time this year, adding that the economists in the Fund are still preparing the final new ratios.

The International Monetary Fund is expected to publish its updated forecasts for 2022 and 2023 in late July, after it reduced its forecast by nearly 1% last April, and the global economy had achieved growth in 2021 by 6.1%.

"The outlook since our last update in April has become significantly bleak," Georgieva said, pointing to a larger spread of global inflation, more significant interest rate increases, slowing economic growth in China, and escalating sanctions related to the Russian war. in Ukraine.

"We are in the midst of choppy waves," she added.

In her response to the possibility of ruling out a global recession, the fund manager said, "The risks are increasing, so we cannot rule it out."

She added that recent economic data showed that some large economies, including those of China and Russia, contracted in the second quarter, indicating that risks may be higher in 2023.

And she continued, "The year 2022 will be difficult, but the year 2023 may be more difficult. The risks of recession increased in 2023."

[yota691]

IMF: The world is on the verge of a recession

 

Arabic and international
   

Economy News _ Baghdad
 Kristalina Georgieva, director of the International Monetary Fund, did not rule out a global recession next year, in light of the current huge risks, and said in a press statement today, Thursday, that the outlook for the global economy has "much worsened" since April.

According to "Gorgieva", the Fund will reduce in the coming weeks its forecast for a growth of 3.6% in the global economy for the third time this year, adding that the economists in the Fund are still preparing the final new ratios.

The International Monetary Fund is expected to publish its updated forecasts for 2022 and 2023 in late July, after it reduced its forecast by nearly 1% last April, and the global economy had achieved growth in 2021 by 6.1%.

"The outlook since our last update in April has become significantly bleak," Georgieva said, pointing to a larger spread of global inflation, more significant interest rate increases, slowing economic growth in China, and escalating sanctions related to the Russian war. in Ukraine.

"We are in the midst of choppy waves," she added.

In her response to the possibility of ruling out a global recession, the fund manager said, "The risks are increasing, so we cannot rule it out."

She added that recent economic data showed that some large economies, including those of China and Russia, contracted in the second quarter, indicating that risks may be higher in 2023.

And she continued, "The year 2022 will be difficult, but the year 2023 may be more difficult. The risks of recession increased in 2023."

 

 

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Views 103

Added 07/07/2022 - 9:11 AM

Update 07/07/2022 - 5:37 PM

[rvmydinar]

28 minutes ago, yota691 said:

IMF: The world is on the verge of a recession

She added that recent economic data showed that some large economies, including those of China and Russia, contracted in the second quarter, indicating that risks may be higher in 2023.

And she continued, "The year 2022 will be difficult, but the year 2023 may be more difficult. The risks of recession increased in 2023."

Is Iraq on the verge of a recession? Hopefully, Iraq will rv before recession happens.

[horsesoldier]

39 minutes ago, rvmydinar said:

Is Iraq on the verge of a recession? Hopefully, Iraq will rv before recession happens.

Knowing these knuckle heads they'll ..." postpone the RV until after the recession all the while form some committees to study whether it's feasible to do so."

Then another committee to study the findings of the feasibility committees, then release their findings and recommendations, then push it on up the slow chain and so on and so forth.

This is totally plausible given their horrendous track record of foot dragging & sand bagging.😆

Of course by then global recession would have reached Epic porportions, the price of oil shall have tanked, the Silk Road has bombed because no one has 2 pennies to rub together ( except the RICH folks ), food supplies are dwindling, anarchy is worldwide & Soylent LLC  will announce a new nutritious food that will save mankind from starvation called Soylent Green.

( It's a movie folks that just happens to take place in 2022 ).

On the other hand, Putin could go really stone cold bonkerrooney, throw a massive temper tantrum cuz it still ain't going his way & start pushing the entire panel of red buttons and it's hello " Dr. Strangelove " ( another great movie, gang ).

Ya gotta have fun with this don't ya.

[screwball]

12 hours ago, yota691 said:

"The risks are increasing, so we cannot rule it out."

what are the risks????? spending???? this will not slow down.....recession is here and depression is coming

[screwball]

this will be bigger than the great depression???? do you know whats happening with the dutch farmers????? seizing their land????? they have been rioting for months but you dont read about it

[screwball]

india, sri lanka, broke and rioting......

[screwball]

11 hours ago, rvmydinar said:

Is Iraq on the verge of a recession? Hopefully, Iraq will rv before recession happens.

already in it...they will rv when they have too or are told too....Iran is joining BRICS will Iraq follow?

[md11fr8dawg]

The world is coming apart compliments of the NWO and the Globalists. And everywhere in the normal world people are pushing back. Be interesting what the future holds!

[rvmydinar]

18 hours ago, horsesoldier said:

Knowing these knuckle heads they'll ..." postpone the RV until after the recession all the while form some committees to study whether it's feasible to do so."

Then another committee to study the findings of the feasibility committees, then release their findings and recommendations, then push it on up the slow chain and so on and so forth.

Yep. The point is Iraq will rv in their own time no matter how long it is going to take and hopefully, no more study.

[rvmydinar]

8 hours ago, screwball said:

they will rv when they have too 

And what we can do is just wait wait wait until we all grow older and older and hopefully we all can enjoy this new found wealth in our time.

[rvmydinar]

8 hours ago, screwball said:

india, sri lanka, broke and rioting......

Just stay tuned and a show time. And probably more countries with the most debts will follow Sri lanka.

[yota691]

The International Monetary Fund sounds the alarm about the future of the global economy

07.13.2022 - 19:16

 

Baghdad - people  

The Director-General of the International Monetary Fund, Kristalina Georgieva, warned on Wednesday that the global economic landscape "has grown bleaker" and may be further deteriorated by the war in Ukraine and the rapid inflation it has caused.  

  

  

The warning comes just months after the IMF cut its global growth forecasts for 2022 and 2023.  

  

The war in Ukraine came at a time when the world was struggling to recover from the repercussions of the Covid epidemic and led to an acceleration of inflation, threatening the gains made during the past two years.   

  

In a blog post she published ahead of the G20 finance ministers and central bank governors meeting in Bali on Friday and Saturday, Georgieva said the IMF "expects a further deterioration in global growth" in 2022 and 2023.  

  

"The year 2022 will be difficult - and 2023 may be even more difficult as the risks of recession increase," she wrote.   

  

The International Monetary Fund is due to release its updated World Economic Prospects report later this month, which Georgieva said would further downgrade global growth estimates from April's 3.6 percent.   

  

"We warned that it could get worse given the potential downside risks. Since then, many of these risks have materialized and the multiple crises facing the world have intensified," she said.   

  

She added that the outlook "remains very uncertain" and warned that the poorest would be hardest hit.   

  

She explained that the risk of "social unrest" is increasing due to the rise in food and energy prices.  

  

multilateral cooperation

  

After a decade of low inflation, prices have soared around the world amid strong demand for goods that has outstripped supply as economies begin to return to normal. But the Russian invasion of Ukraine and sanctions against Moscow pushed up fuel and food prices sharply.   

  

Ukraine and Russia are major grain producers, and Russia is a major energy exporter to Europe, and has cut back on natural gas supplies to the region.   

  

Inflation has also complicated policy making as major central banks raise interest rates to contain prices, but this increases borrowing costs for emerging markets and developing countries facing high debt burdens.   

  

But Georgieva said fighting price hikes was crucial, despite the risks of a recession.   

  

"Acting now will have less harmful effects than if we acted later," she said.  

  

She said that redressing the effects of the war and the pandemic is a top priority that can only be addressed through "multilateral" financial aid and debt relief.   

  

She stated that "debt reduction is an urgent necessity, especially in emerging and developing economies whose financial obligations are denominated in foreign currencies, which in turn are the most vulnerable to the tightening global financial conditions."  

  

Georgieva noted that the top priority is to reduce inflation, including by reducing government spending, which would help the efforts of the Central Bank.   

  

The Group of Twenty called for strengthening "coordinated international action", including rich countries that provide essential aid to poor countries.  

  

Georgieva warned that most countries' economies were "completely isolated" from global markets due to financial pressures, and lacked a significant domestic market safety net.   

  

"They are calling on the international community to take bold measures to support their people. This is a call that we must heed," she said.  

  

"AFP"