During the economic forum in Davos, the managing director of the International Monetary Fund, Kristalina Georgieva, said that regardless of the war in Ukraine, she does not expect a recession in the world’s largest economies, but she cannot exclude it either.
“So my answer will be no, not at this point. This does not mean that it is out of the question. We lowered our growth forecasts for this year in April for 143 countries – that’s 86% of global GDP, and things have gotten worse since then – as the weather here in Davos, the horizon darkened,” Kristalina Georgieva, the International Monetary Fund Director, said.
“Many factors influence the world economy. The war in Ukraine may intensify. We impose sanctions and feel counter-sanctions. Central banks around the world have to tighten monetary policy. Financial conditions may worsen. So all of these factors put our recession at risk,” Gita Gopinath, the Deputy Director of the International Monetary Fund, said.