IMF Now Warning That Raising Interest Rates Will Plunge The World Into A Recession

IMF's Managing Director, Kristalina Georgieva, said the organisation will lower its 2023 growth forecast, the fourth downward revision this year, when it releases its World Economic Outlook next week [File: Ahmed Yosri/Reuters]  

CNN: Hiking rates too quickly could trigger a ‘prolonged recession,’ IMF head warns 

The global economic outlook is darkening and the risks of recession are quickly rising: That’s the latest message from the International Monetary Fund, which said Thursday it will once again lower its growth projections. 

“We estimate that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year,” said IMF managing director Kristalina Georgieva during a speech at Georgetown University. 

“And, even when growth is positive, it will feel like a recession because of shrinking real incomes and rising prices.” The IMF anticipates that the world could lose $4 trillion in economic output between now and 2026.  

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IMF Now Warning That Raising Interest Rates Will Plunge The World Into A Recession 

IMF warns of higher recession risk and darker global outlook -- AP 

IMF chief warns world heading towards age of greater instability -- The Guardian 

IMF chief sees ‘darkening’ outlook for global economy -- Al Jazeera