Kristalina Georgieva, managing director of the International Monetary Fund (IMF), recently predicted that many nations would go into recession next year, with the United States potentially able to avoid it.
The IMF is expecting 2023 to be a “tough year” for the world economy, even “tougher than the year we leave behind,” Georgieva said on CBS’s “Face The Nation” program. The core reason for this, she argued, is due to the slowing down of the three big economies—the United States, the European Union, and China. The EU is “severely hit” by Russia’s war in Ukraine, with half of the region expected to be in recession in 2023. China will face a “tough year” in 2023, she noted….