Global recession risk rising as economic outlook ‘darkens significantly’, IMF says

Cost-of-living crisis only getting worse' says IMF chief Kristalina Georgieva, predicting a tough 2022, and even tougher 2023'

The outlook for the global economy has darkened significantly" in recent months, the head of the IMF has warned, and the world faces an increasing risk of recession in the next 12 months.

The commodity price shock from the war in Ukraine had exacerbated the cost-of-living crisis for hundreds of millions of people, Kristalina Georgieva said on Wednesday, and it was only getting worse".