IMF warns the 'world may soon be teetering on the edge of a global recession' as it lowers growth outlook kitconews gold silver economics investing finance mining metals
The International Monetary Fund has a severe recession warning as it forecasts slower growth for this year and next, according to its latest World Economic Outlook.
The number one priority is to tame inflation. But that could lead to real economic costs, including a global recession. "Global inflation … is anticipated to reach 6.6 percent in advanced economies and 9.5 percent in emerging market and developing economies this year—upward revisions of 0.9 and 0.8 percentage points, respectively. In 2023, disinflationary monetary policy is expected to bite, with global output growing by just 2.9 percent," the IMF noted.
The apprehension is that risks listed by the IMF in April are materializing. These include a sudden stop of European gas flows from Russia, stubbornly high inflation de-anchoring future price expectations, a surge in debt stress due to tighter monetary policies, renewed COVID outbreaks, rising threats from food insecurity, and geopolitical fragmentation.
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