One-Third of World Economy Likely to be in Recession in 2023, IMF Chief Warns

The new year will be tougher than 2022 for much of the global economy with the United States, Europe, and China experiencing weakening activity, according to International Monetary Fund (IMF) chief Kristalina Georgieva. The top official of the UN financial agency said the new year is going to be “tougher than the year we leave behind” as three big economies are “slowing down simultaneously”. “Why? Because the three main economies – the U.S., EU and China – are all slowing down simultaneously,” Georgieva was quoted as saying on a TV show. “We expect one-third of the world economy to be…