Kristina Georgieva, Managing Director of the International Monetary Fund, says the risk of a global recession has gone up due to three major reasons: the big global economies are slowing down, inflation is speeding up, and the world’s global order is fragmenting. She shares her perspective on the economic challenges facing the world in a conversation with Ian Bremmer on GZERO World.
Georgieva acknowledges that Europe should brace itself for a dark winter because of energy shortages, and points out that the following winter of 2023 could be even harder as natural gas and oil reserves run low. The silver lining of this crisis, however, is that Europe is forced to accelerate its green transition. For the world, this is really good news.