IMF predicts recession in one-third of global economy this year

The International Monetary Fund is warning that up to one-third of the global economy is in danger of an outright recession in 2023, because the three biggest economies, the U.S., EU and China, are all slowing down simultaneously. Read more: »»» Subscribe to CBC News to watch more videos: Connect with CBC News Online: For breaking news, video, audio and in-depth coverage: Find CBC News on Facebook: Follow CBC News on Twitter: For breaking news on Twitter: Follow CBC News on Instagram: Subscribe to CBC News on Snapchat: Download the CBC News app for iOS: Download the CBC News app for Android: »»»»»»»»»»»»»»»»»» For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians....(read more)

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The International Monetary Fund (IMF) has warned that one-third of the world's economies could experience a recession this year due to the impact of Covid-19 pandemic. The global economy has been severely hit due to months of lockdowns, travel restrictions, and massive supply chain disruptions. This has resulted in massive job losses, revenue declines, and economic instability across the world. According to the IMF, the global economy is expected to shrink by 4.4% this year. The IMF also predicted that the advanced economies would experience a contraction of 5.8% this year, while the emerging markets and developing economies would shrink by 3.3% this year. This is the worst economic slump since the Great Depression, which took place in the 1930s. The pandemic has plunged many nations into deep economic recessions. The IMF has identified five countries that are at great risk of economic instability - Argentina, Iraq, Lebanon, Iran, and Venezuela. These countries are facing multiple challenges, including political instability, high debt burdens, and weak economic fundamentals, which make them vulnerable to economic crises. As the pandemic continues to rage on, the IMF has emphasized the importance of strong policy measures to stabilize economies and support recovery. The organization has called on countries to invest in programs that will support growth, create jobs, and protect the most vulnerable members of society. In these challenging times, governments have an important role to play in stabilizing economies and supporting their citizens. The IMF has also called on international organizations, such as the World Bank and the G20, to collaborate closely to support countries in need. In conclusion, the Covid-19 pandemic has had severe consequences for the world economy, and it is clear that many countries will experience a recession this year. However, with strong policy measures and international cooperation, we can mitigate the impact of the pandemic and work towards a speedy recovery. https://inflationprotection.org/imf-predicts-recession-in-one-third-of-global-economy-this-year/?feed_id=86486&_unique_id=6434470d8dc63 #Inflation #Retirement #GoldIRA #Wealth #Investing #businessnews #CBC #CBCNews #china #economy #inflation #recession #russia #unemployment #worldrecession #RecessionNews #businessnews #CBC #CBCNews #china #economy #inflation #recession #russia #unemployment #worldrecession