Tuesday, 18 October 2022 13:10

IMF chief warns of severe impact of global economic downturn

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The International Monetary Fund has acknowledged that more must be done for developing countries, as the world braces for an economic slow down.
Managing Director of the IMF Kristalina Georgieva, addressing a recent forum, said multilateral groups and more developed economies, will have to come together to support smaller states as they brace for the threat of recession.
She said the global economy is on the verge of losing US$4 trillion by 2026, with one-third of economies around the world in danger of experiencing a recession.