World Bank and IMF chiefs warn of risk of global recession

The heads of the World Bank and the International Monetary Fund (IMF) have warned that the world will lose $4 trillion by 2026. As the President of the World Bank expects, the global recession will come as early as 2023.

“The risk and real danger of a global recession next year. Developed economies in Europe are slowing down. Let’s see where it goes next year,” World Bank Governor David Malpas said during a discussion ahead of the fall session of the IMF and World Bank governing bodies.

The head of the IMF, Kristalina Georgieva, added that she agreed with the opinion of Mr. Malpas. In their opinion, one third of the world economy will survive at least two quarters in a row of slow growth.

Previously at S&P Global Market Intelligence declaredthat a recession in the eurozone could come soon. According to the agency, companies are reporting worsening business conditions and increased price pressures associated with rising energy prices. The most difficult situation is in Germany.

More details – in the material “Kommersant” EU business activity points to recession.

Olesya Pavlenko