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IMF believes one-third of economies will enter recession



The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, warns that "a third of the world economy" will be in recession this year, including "half of the European Union".


In an interview on the U.S. television network CBS, reported by EFE, Georgieva assures that "for most of the world (2023) it is going to be a tough year, tougher than the one we left behind", since the three big economies -the United States, the European Union and China- "are slowing down simultaneously".


In fact, he expects half of the European Union countries, whose economy is "severely impacted" by the war in Ukraine, to enter recession in 2023.


In contrast, he sees the U.S. economy as more "resilient" and is confident that the strength of its labor market will help it "avoid recession" and even "sustain the world in a very difficult year."

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