Search
Close this search box.
Search
Close this search box.

One-Third Global Economy will be in Recession, Says IMF Chief Kristalina

International Monetary Fund

Kristalina Georgieva, managing director of the International Monetary Fund (IMF), warned that the global economy will face “a challenging year, harsher than the year we leave behind.”

“We anticipate that one-third of the global economy will be in recession,” Kristalina Georgieva told CBS in an interview.

Read More: Which Countries are at Financial Crisis Risk?

“Why? Because the three major economies — the United States, the European Union, and China — are all slowing down at the same time,”

Previously, the IMF warned in October that more than a third of the global economy will contract, with a 25% possibility that global GDP will expand by less than 2% in 2023. A global recession has occurred.

Read Also: Tech layoffs in 2023

Kristalina Georgieva examined the three largest economies in the interview and gave a mixed picture of their ability to endure the slump.

While the United States may avoid a recession, the European Union has been “quite hard damaged by the war in Ukraine – half of the EU will be in recession next year,” she predicted.

At the same time, China faces a “difficult year”, she added, saying, “That transfers into negative trends globally – when we look at the emerging markets in developing nations, there, the picture is much direr.”

Still, the outlook for the United States, the world’s largest economy, may provide some relief, she said.

“If the US labor market’s resiliency remains, the US will help the globe get through a very challenging year,” Kristalina Georgieva stated.


Subscribe to Our Newsletter

Related Articles

Top Trending

Best Mobile Games for Commuting Without Internet
Best Mobile Games for Commuting Without Internet
Gaming Merch Brand
10 Steps to Launch a Successful Gaming Merch Brand in 2025
Best Games to Play With Only One Hand
Best Games to Play With Only One Hand in 2025 – Fun & Accessible Picks
high risk merchant account at highriskpay.com
Secure Your Business With A High Risk Merchant Account At HighRiskPay.com
Future of Tokenomics Innovations to Watch
7 Tokenomics Innovations Shaping the Future of Digital Assets

LIFESTYLE

Clean Beauty Movement
How the Clean Beauty Movement Is Transforming Skincare in 2025
Gender Reveal Balloons
The Ultimate Guide to Gender Reveal Balloons: Colors, Styles, and Surprises
Best Places to Shop in Manchester
Shop 'Til You Drop: The Best Places to Shop in Manchester for Every Style
retirement cities in California
10 Best Retirement Cities in California for a Relaxed and Affordable Life
Mother's Day Around The World
Mother’s Day Traditions Around the World: Mother's Day 2025 Special

Entertainment

cuba gooding jr net worth
Cuba Gooding Jr Net Worth: Photos and Videos Revealed
Taylor Swift Blake Lively Gigi Hadid Feud
Taylor Swift & Blake Lively Feud: Gigi Hadid Quietly Picks a Side
megan fox kids
Megan Fox Kids: A Closer Look At Noah, Bodhi, and Journey
Justin and Hailey Bieber spending time apart
Justin & Hailey Bieber Seen Spending Time Apart in Los Angeles
jasmine crockett net worth
Jasmine Crockett Net Worth: Congress Representative Crockett's Impressive $9 Million in 2025

GAMING

Best Mobile Games for Commuting Without Internet
Best Mobile Games for Commuting Without Internet
Gaming Merch Brand
10 Steps to Launch a Successful Gaming Merch Brand in 2025
Best Games to Play With Only One Hand
Best Games to Play With Only One Hand in 2025 – Fun & Accessible Picks
Fortnite App Store Return
Apple Faces New Legal Push to Approve Fortnite on App Store
Best Games for Apple Arcade Subscribers
The Best Games for Apple Arcade Subscribers in 2025

BUSINESS

high risk merchant account at highriskpay.com
Secure Your Business With A High Risk Merchant Account At HighRiskPay.com
Future of Tokenomics Innovations to Watch
7 Tokenomics Innovations Shaping the Future of Digital Assets
Web3 in Humanitarian Efforts
7 Ways Web3 Is Powering Modern Humanitarian Efforts
Multi-Signature Wallets Boost Web3 Security
Why Web3 Needs Multi-Signature Wallets for Safer Transactions?
Laws Affecting International Shipping
5 Laws Affecting International Shipping in 2025

TECHNOLOGY

Fortnite App Store Return
Apple Faces New Legal Push to Approve Fortnite on App Store
Integrate Smart Technology into Modern Home Design
How to Integrate Smart Technology into Your Home’s Design
Enterprise GRC Solutions
What Capabilities Matter Most in Enterprise GRC Solutions?
Jaguar FK72-10E898-AG Sat Nav SD Card
Navigating the Jaguar FK72-10E898-AG Sat Nav SD Card for Europe, UK, and Ireland
BIOS Tweaks for Gaming Performance
7 Essential BIOS Tweaks For Maximum Gaming Performance

HEALTH

Stroke Patient May Be Nearing the End of Life
Recognizing When a Stroke Patient May Be Nearing the End of Life
PSA Test
For Men: Is the PSA Test Still Necessary?
Cattle Joint Supplements
Top Cattle Joint Supplements: Boosting Your Herd’s Health and Performance
Molar Implant Healing Timeline
The Healing Timeline After Getting Molar Implants
prolactin supplement for milk supply
How Does a Prolactin Supplement Support Milk Supply?