Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: One was killed, another injured in a raid by an Israeli drone on the city of Khiam in South Lebanon
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.

IMF: One third of global economy to experience negative growth

  • By Al Mayadeen English
  • Source: Agencies
  • 10 Oct 2022 19:03
  • 1 Shares
2 Min Read

International Monetary Fund Managing Director Kristalina Georgieva says that increasing food import costs would result in a $9 billion shortfall in developing nations' balance of payments.

  • x
  • IMF Managing Director Kristalina Georgieva
    IMF Managing Director Kristalina Georgieva

International Monetary Fund (IMF) Managing Director Kristalina Georgieva, reaffirmed, on Monday, that one-third of the global economy will experience negative growth for two straight quarters, at least, in 2022 and 2023.

During a virtual conversation with World Bank President, David Malpass, Georgieva stated that "The risk of recession has gone up. We have calculated that about one-third equivalent of the world economy would have at least two consecutive quarters of negative growth this year and next year." 

Forecasts further predict for the global output to decline by about $4 trillion between now and 2026, noting that the recession affects nations that account for one-third of global GDP, according to Georgieva.

"What the world needs is somewhere between $3 trillion and $6 trillion; we are not even close to this number," she added.  

Related News

Lebanon passes banking restructuring law to secure funds from the IMF

World Bank: Global growth to slow sharply, worst since 2008

According to Georgieva, the IMF projects that increasing food import costs would result in a $9 billion shortfall in developing nations' balance of payments in 2022-2023.

"We took specifically to heart the issue of food. Why? Because you die when food is not available. This is not a trivial question. And we identified about $9 billion shortfall in terms of balance of payment coverage for this only, and now we are looking, of course, into the impact of energy on developing countries," she said during the joint discussion with Malpass.  

The IMF has frequently warned that the global economic slowdown has accelerated in recent months and that certain nations will experience a recession next year.

The crisis in Ukraine, supply chain interruptions, challenges with gas and oil supplies from Russia to Europe, and other concerns are all harming global economic activity, according to the organization.

Read more: IMF - Massive downgrades in global growth, global output forecasts

  • International Monetary Fund
  • Kristalina Georgieva
  • IMF

Most Read

An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025
An explosion seen during an Iranian missile attack on Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

If Iran is attacked again, geography of response may change: IRGC spox

  • Politics
  • 30 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli soldiers drive on their armored personnel carrier back from inside the northern Gaza Strip, Tuesday, July 29, 2025. (AP)
Politics

Full occupation of Gaza on the table despite military's opposition

Israeli Prime Minister Benjamin Netanyahu speaks to the audience at a conference in occupied al-Quds, occupied Palestine, Sunday, July 27, 2025 (AP)
Politics

Netanyahu blamed for sabotaging Gaza captives deal, say their families

A mine operated by Serra Verde Mining in Minacu, Goias state, Brazil, Monday, July 28, 2025 (AP)
Politics

China’s mineral export ban disrupts US defense supply chain

ap
Politics

Aid allowed by 'Israel' covers only 14% of Gaza's needs: Media Office

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS