The state of the global economy is … not good

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?