IMF says global economy is edging towards recession

The International Monetary Fund has said the global economy could soon be teetering on the brink of recession amid evidence that the world’s three biggest economies are all stalling and inflation is higher than previously forecast.

by | 26 Jul, 2022

In a downbeat update to its April world economic outlook (WEO), the IMF cut its growth forecasts in 2022 and 2023 – and raised the prospect of a more pronounced slowdown.

It said problems in the US, China and the eurozone had resulted in global output falling in the second quarter of this year – the first contraction since the start of the Covid-19 pandemic.
Read at The Guardian

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