Tuesday, June 18, 2024
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The International Monetary Fund (IMF) has predicted that 2023 will be a challenging year for the global economy, as the main drivers of global growth – the US, Europe, and China – all experience a slowdown in activity. According to IMF Managing Director Kristalina Georgieva, this is due to the simultaneous slowing down of the three major economies. The IMF’s outlook for global economic growth in 2023 was downgraded in October, due to various factors including the ongoing conflict in Ukraine, inflation pressures, and high-interest rates set by central banks to curb inflation. 

Georgieva also mentioned that China would likely see a surge in COVID-19 infections in the coming months, which will further impact its economy and drag on regional and global growth.

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