The International Monetary Fund has predicted that global financial markets should brace for a tumultuous 2023.
China’s outlook in the short term is also particularly dire as it unwinds its controversial zero-COVID policies, which will have further repercussions for other developing nations.
In a wide-ranging interview with CBS, IMF Managing Director Kristalina Georgieva cited a simultaneous slowdown of the three major economies as the reason for the gloomy outlook.
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“For most of the world economy, this is going to be a tough year,” she said on Sunday local time.
“Tougher than the year we leave behind. Why? Because the three big economies: US, EU, China are all slowing down simultaneously.”
Although the United States’ economy is resilient and could avoid a recession, Ms Georgieva said one…
