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This year, the annual fall meetings of the World Bank and the IMF were all about global economic doom and gloom.
The IMF has cut its global growth prediction for this year by half compared to 2021. And next year will be the worst since COVID and the 2008 financial crisis.
Meanwhile, inflation is still very high — and efforts by rich countries to tame rising prices are going to hurt poor nations.
And what about climate change? That may be the one silver lining for the IMF, which believes that the present energy crisis may accelerate the green energy transition.
Watch the GZERO World episode: Can the world avoid a global recession?
- Is the world on the brink of another global recession? - GZERO Media ›
- Podcast: Making sense of global inflation, looming recession ... ›
- Can the world avoid a global recession? - GZERO Media ›
- Is global economic inequality getting worse? - GZERO Media ›
- The recovery will be a jagged swoosh, not a V-shape - GZERO Media ›
- Explaining the long history of US debt (& which other countries are saddled with debt) - GZERO Media ›