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The Latest Breaking News from Kristalina Georgieva

Third of global economy to be in recession in 2023, IMF chief warns

A THIRD of the world economy will be in recession in 2023, the head of the International Monetary Fund (IMF) has warned.

The National (Scotland)

Third of world could be in recession in 2023, IMF chief warns

Kristalina Georgieva, the managing director of the International Monetary Fund, is warning that this year will be tougher than the last and that the war in Ukraine, rising inflation and higher interest rates will weigh heavily on the global economy. She expects the EU to be particularly hard hit, with…

France 24

2023 to be tougher for global economy than 2022, IMF chief says

IMF Managing Director Kristalina Georgieva says one-third of world’s economies expected to be in recession this year.

Al Jazeera

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Economists hail end to zero Covid in China but huge human toll is feared

Low rate of vaccination of elderly and a lack of natural immunity mean country may be in for a bumpy ride

The Guardian - UK

IMF chief Georgieva cites 'fruitful exchange' with China on debt issues

International Monetary Fund chief Kristlina Georgieva said she had a "fruitful exchange" with her Chinese counterparts this week on her repeated calls for accelerating debt treatments for countries like Zambia and Sri Lanka.

Reuters

The Loop: Donald Trump faces criticism from Mitch McConnell, Will Smith on why he 'lost it' on Oscars night, and Oath Keepers founder Stewart Rhodes convicted — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

ABC News

China should end its anti-COVID lockdowns, the head of the IMF says

The change could calm widespread protests, and would ease the impact to a world economy already struggling with high inflation, an energy crisis and disrupted food supply.

WEKU

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AP Interview: IMF chief urges targeted COVID policy in China

The head of the International Monetary Fund says it’s time for China to move away from mass lockdowns under its “zero-COVID” approach

The Independent UK

G20’s dysfunctional family show little sign of working together in a crisis

Communique unlikely to stretch beyond usual platitudes despite the need for a global plan for recovery

The Guardian - UK

Saudi Crown Prince Holds Talks with UAE President, IMF Managing Director at G20 Summit

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, who is leading the Kingdom’s delegation to the G20 Leaders Summit in Bali, met on Tuesday on the sidelines of the event with President of the UAE Sheikh Mohammed bin Zayed Al Nahyan. During the meeting, the leaders exchanged friendly…

Asharq Al-Awsat

At G20, divisions hinder bid to blame Russia for inflation crisis

US push to blame Russia’s war in Ukraine for cost-of-living crisis comes amid divisions within economic forum.

Al Jazeera

IMF chief warns on U.S.-China rivalry, calls Trump-era tariffs counterproductive

The head of the International Monetary Fund warned of risks to the global economy from the rivalry between China and the United States, while describing tariffs put on Chinese imports under then-President Donald Trump as counterproductive.

Reuters

‘It’s very possible we are peaking’: IMF managing director says global inflation could soon be going down, while economist Paul Krugman says in the U.S. it might already be at 4%

Declines in rental prices and slowing wage growth could mean inflation is past its peak, but not everyone agrees.

Fortune

Global inflation may be close to its peak, IMF director says

Kristalina Georgieva cautions that supply chain disruption could cause persistent pressure in living costs

The Guardian - UK

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Reuters

COP27: What are they saying at the climate summit?

World leaders, policymakers and delegates from nearly 200 countries are at the COP27 U.N. climate summit in Egypt, where they hope to keep alive a goal to avert the worst impacts of climate change.

Asharq Al-Awsat

COP27... A Climate Summit with an Economic Spirit

The economy appears to be at the heart of problems and solutions to the world’s climate crisis as the COP27 UN Climate Change Conference got underway in Egypt’s Sharm el-Sheikh on Sunday. As the world rushed towards industrialization at the onset of the 20th century, it drove unwanted gases into…

The Independent UK

Pounds slips against dollar as Rishi Sunak delays Budget

Sterling still performing better than during Liz Truss’s disastrous tenure as prime minister

Reuters

Russian bombings of civilian infrastructure raise cost of Ukraine's recovery: IMF

Russia's latest strikes on civilian infrastructure have raised the cost of Ukraine's recovery and could see it needing close to $4 billion a month just to keep power and water supplies going, the head of the International Monetary Fund said on Wednesday.

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Reuters

World Bank says Ukraine has tenfold increase in poverty due to war

Russia's attacks on civilian infrastructure in Ukrainian cities away from the front lines will complicate the dire economic situation facing the country, which has already seen a tenfold increase in poverty this year, a top World Bank official said on Saturday.

The Guardian - UK

IMF meetings have exposed the fragmentation of the global economy

Countries have responded to a series of shocks by looking out for themselves, which could increase volatility and uncertainty

Reuters

Georgieva to meet with Egypt, Tunisia, confident of IMF 'backing them up'

International Monetary Fund chief Kristalina Georgieva said she would meet on Saturday with delegations from Egypt and Tunisia and was confident the global lender would be "backing them up."

The Guardian - UK

Kwasi Kwarteng: how ex-chancellor’s fate was sealed by IMF orthodoxy he fought against

Former occupant of No 11 Downing Street finally sacked after financial institution chief’s remarks in Washington

Reuters

IMF chief Georgieva says 'big policy issues' resolved in talks with Egypt

International Monetary Fund officials have resolved all "big policy issues" with Egyptian authorities in their discussions on a new lending program, and will meet again on Saturday, IMF Managing Director Kristalina Georgieva said Friday.

Asharq Al-Awsat

IMF Sees Middle East Growth at 5%

The Middle East is projected to grow at five percent this year, up from 4.1 percent in 2021.

Al Jazeera

IMF chief rebukes UK officials over ‘policy coherence’

Kristalina Georgieva told UK’s finance minister and central bank chief that their policies should not be contradictory.

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