Global debt is at such a high level that a worldwide cooperative approach is needed to tackle the danger, according to Vitor Gaspar, director of the International Monetary Fund’s (IMF) fiscal affairs department, and Ceyla Pazarbasioglu, the organization’s strategy chief. Data from the IMF’s Global Debt Database shows that borrowing rose by 28 percentage points…
Ukraine War Will Lower Global Growth Says IMF, Russian Economy Could Contract 15 Percent in 2022
The International Monetary Fund (IMF) is expected to cut down its global growth forecast for 2022 due to Russia’s invasion of Ukraine, according to the managing director of the agency, placing a damper on the post-pandemic economic recovery that was critical to many nations. “We think that we would be downgrading our growth projections as…
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