Recession will hit a third of the world this year, warns IMF chief

third of the global economy will be in recession this year, the IMF chief has said, and warned that 2023 will be “tougher” than last year as the US, EU and China will see their economies slow down. The year 2023 will be tougher than last year because the economies of the US, the EU and China will slow down, Georgieva said.

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