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Added on the 06/10/2022 16:38:26 - Copyright : AFPTV - First images
FRANCE 24 spoke to IMF Managing Director Kristalina Georgieva at the World Economic Forum in Davos. Gloomy economic forecasts have cast a long shadow over this year's event in the Swiss Alps. But Georgieva said that although the IMF projects 2023 to be "a difficult year" and for growth to fall further, "we don't expect a global recession". She cited resilient labour markets and consumer spending, the post-Covid reopening of China and signs of inflation trending downwards.
Escalating inflation, the war in Ukraine and low consumer confidence are spelling headwinds for the global economy.
The world is facing its worst food crisis in history. Millions of tonnes of wheat are stuck in Ukraine, worsening an already precarious situation for many countries that depend on exports from the region. IMF Managing Director Kristalina Georgieva tells FRANCE 24 Business Editor Kate Moody that only "very strong international mobilisation" will save the lives of millions of people. Also in our update from Davos: EU member states move towards an embargo on Russian oil, but with no consensus on the timeline.
International Monetary Fund chief Christine Lagarde says that the possibility that Britain would vote to pull out from the European Union poses risks for the already weak world economy.
The United Nations chief urges world leaders to take decisive action to tackle ever-worsening climate change when they gather at the COP28 summit in Dubai starting this week. "We are trapped in a deadly cycle," UN Secretary-General Antonio Guterres says. "The solutions are well known." SOUNDBITE
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