International Monetary Fund (IMF) Managing Director Kristalina Georgieva
Recession 2022: The International Monetary Fund’s managing director says there is no point in a global recession, but “that doesn’t mean it is out of the question.”
Speaking at the World Economic Forum’s annual gathering on Monday, Kristalina Georgieva reminded the audience that the IMF is forecasting growth of 3.6% for 2022, which is “a long way from a global recession”.
A moderator started a discussion about the global economy by asking the audience whether they thought a recession was likely. Most of the crowd of about 100 raised their hands.
Georgieva says the global outlook was “a bit like the weather here in Davos – the horizon has darkened.”
She says it is going to be a “tough year” and that one of the bigger problems is the rise in food prices, partly driven by the Russo-Ukraine war.
Georgieva listed several other challenges including rising interest rates, inflation, a stronger dollar, a recession in China, the climate crisis, and a recent “rough spot” for cryptocurrencies.
Other speakers on the panel debated whether Europe would fall into recession after the European Central Bank indicated that it would begin to tighten monetary policy.
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