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The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis 

IMF warns global recession risks & darker outlook; what these warning means

IMF warns global recession risks &amp; darker outlook, but what these warning means?

The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis.
Economy is moving from a world of relative predictability to one of greater uncertainty, International Monetary Fund chief Kristalina Georgieva has said, warning that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year.
In a speech ahead of the fund's annual meetings next week, the IMF's managing director said to take concerted action to avoid a "dangerous 'new normal,'" as the risks of a worldwide recession are driven ever higher by repeated economic shocks.
This highlights downturns in China and Russia, alongside higher-than-expected inflation, especially in the United States and Europe.
It is partly blamed on Russia's war in Ukraine, which has increased energy prices and food prices.
Whether an economic downtown has officially been declared a recession or not, the impacts of an impending recession can affect your daily life.
Some people may lose their jobs, or find it harder to get promotions, or pay rises big enough to allow them to cope with increases in prices.
Graduates and school leavers could find a first job harder to get.
However, the pain of a recession is typically not felt equally across society, and inequality can increase.
Benefit recipients and those with fixed incomes are particularly likely to struggle.&nbsp;

World Bank President David Malpass says a "world recession could happen under certain circumstances''

World bank and IMF warn aggressive fight against inflation

World Bank President David Malpass says a "world recession could happen under certain circumstances''

Warning that inflation threatens to become "a runaway train,'' the managing director of the International Monetary Fund urged policymakers to keep up the fight against rising prices even it means more pain at a time of extraordinary economic turmoil.
Speaking to reporters Thursday, the IMF's Kristalina Georgieva said that the world economy "has been hit by one shock after another&Prime; &mdash; the coronavirus pandemic, Russia's invasion of Ukraine and a resurgence of inflation.
Not only this, World Bank President David Malpass also says a "world recession could happen under certain circumstances."
Malpass comments comes as a worse-than-expected report on inflation hit Wall Street Thursday, and stocks are falling toward their weakest levels in almost two years.

Bangladesh set to overtake India in per capita GDP | BOOM | IMF report 

The IMF has said that India is set to slip below Bangladesh in per capita GDP. Bangladesh will be up 4% than India. What does this mean for Indian economy and what can it potentially lead to? BOOM Explains.
Madan Sabnavis, Chief Economist, CARE Ratings says that IMF Report clearly says that India is one of the worst performing economies globally. The lockdown has had a very negative effect on the economy which gets reflected in the numbers that the IMF, RBI and World Bank are citing. In retrospect it is easier to say we shouldn't have announced a lockdown so soon but it was the sensible thing to do at the time in March.
He also says that when GDP comes down, it encapsulates loss of investments, income, jobs and spending coming down. Even if we grow at 8.5% or 9%, the Indian economy will still go back to 2019 levels. The prospects of consumer demand rising are still low.
Watch BOOM's Govindraj Ethiraj interview Madan Sabnavis on the 5 trillion economy India wants to be and the current economic scenario in India.

imf report

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