“The horizon has darkened” on the world economy, noted Monday the managing director of the International Monetary Fund (IMF) Kristalina Georgieva during a conference in Davos, excluding however a risk of global recession. "The year will be hard," warned the leader during this panel on the global economic outlook, and at a time when the extent of the consequences of the war in Ukraine is very uncertain. "We are experiencing a shock on the price of raw materials, and particularly on food prices" which are experiencing a historic surge, said the director general.
In a report published Monday, the OECD, which includes all developed countries, said that the G7 countries had recorded in the first quarter a decline in their growth of 0.1%, quarter on quarter. A recession is not on the horizon "right now, but that doesn't mean it's out of the question," Kristalina Georgieva said Monday, in response to a question about recession risks in within developed countries. On global recession risks, the leader ruled them out, while saying that “we will see recessions in some countries that have not recovered from the Covid crisis, are very dependent on Russia or of the import of food goods, and already present weaknesses".
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