IMF chief warns: Global economy faces difficult year
For much of the global economy, 2023 will be a difficult year as the main engines of global growth, the United States, Europe and China, face a slowdown in activity, said the general director of the International Monetary Fund, Kristalina Georgieva, reports Reuters, quoted by news.ro.
In October, the IMF cut its outlook for global economic growth in 2023, reflecting the negative impact of the war in Ukraine, as well as inflationary pressures and high interest rates created by central banks such as the US Federal Reserve aimed at reducing price pressures.
Since then, China has abandoned its zero COVID policy and embarked on a chaotic reopening of its economy, although consumers there remain wary as cases of the coronavirus rise.
In his first public comments since the policy shift, President Xi Jinping called for more effort and unity in a New Year's address on Saturday as China enters a "new phase".
