Managing Director of the International Monetary Fund (IMF), Kristalina Georgievsaid on Thursday that will lower the global growth forecast of 2.9% for 2023 and signaled that risks of a global recession were rising, Reuters reported.
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“Countries representing a third of the global economy are expected to report at least 2 consecutive quarters of contraction this year or next.”
“The The IMF predicts a global output loss of $4 trillion by 2026“.
“Fiscal measures must be selective and temporary, policymakers must avoid an indiscriminate response.”
“Central banks must continue to respond to high inflation even as the economy slows“.
“China and private creditors must act to address the risk of a widening debt crisis in emerging markets.”
“The probability of portfolio outflows from emerging markets has risen to 40%.”
market reaction
These comments do not appear to have a noticeable impact on market sentiment. At the time of writing, the S&P 500 is trading near Wednesday’s closing level of around 3,785 points.
Source: Fx Street
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