In the next four years, losses from a potential worldwide recession could equal the equivalent of the German economy.

That’s the prediction of the Managing Director of the International Monetary Fund, Kristalina Georgieva.

The annual IMF and World Bank meetings are underway here in Washington DC.

The meetings bring together central bankers, finance ministers, banking executives, and NGO leaders to take on global economic and financial issues.

CGTN’s Jim Spellman reports. 

To discuss:

• Yan Liang is Endowed Chair and Professor of Economics at Willamette University.
• Ryan Patel is a Global Business Executive.
• Gilson Schwartz is a Professor of Economics at the University of Sao Paulo.
• John Gong is a professor of Economics at the University of International Business and Economics, in Beijing.

For more:

The IMF and World Bank warned of the rising risk of a global recession as faster inflation forces central banks to raise interest rates https://t.co/l33oNqHFY2

— Bloomberg (@business) October 10, 2022

The leaders of the IMF and World Bank have said much of the world will slide into recession next year, and that lost output between now and 2026 will amount to some $4 trillion – equivalent to the entire German economy https://t.co/xxZrynauoH

— RTÉ News (@rtenews) October 10, 2022