The International Monetary Fund (IMF) will next week downgrade its forecast for 2.9 percent global growth in 2023, Managing Director Kristalina Georgieva said on Thursday, citing rising risks of recession and financial instability.Georgieva said the outlook for the global economy was “darkening” given the shocks caused by the COVID-19 pandemic, Russia’s invasion of Ukraine and climate disasters on all continents, and it could well get worse.“We are experiencing a fundamental shift in the global economy, from a world of relative predictability … to a world with more fragility — greater uncertainty, higher economic volatility, geopolitical confrontations, and more frequent and devastating natural disasters,” she said in a speech at Georgetown University in Washington, DC.
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