Global growth to bottom out this year — IMF’s Georgieva

DAVOS, Switzerland — Worldwide Financial Fund (IMF) Managing Director Kristalina Georgieva stated on Tuesday international financial growth was anticipated to bottom out in 2023 regardless of the continued Ukraine conflict and rising rates of interest.

Talking at a World Financial Discussion board panel in Davos, Ms. Georgieva affirmed an IMF forecast for international growth to decelerate to 2.7% this year from round 3.2% final year.

“Since the beginning of the year we do see some good news. We also expect in 2023 growth to bottom out, to start the process in which we go up rather than down,” she stated.

Ms. Georgieva stated the three very important challenges had been the Russia-Ukraine conflict, the cost-of-living disaster and rates of interest at a stage unseen in a long time. The world should handle the adjustment to extra safety of provide well, she added.

“The context is: It is not great,” she added. — Reuters

Source link