World Bank’s Malpass, IMF’s Georgieva see rising risks of global recession


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WASHINGTON — World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva said there was a growing risk of global recession, with inflation remaining a continuing problem after Russia’s invasion of Ukraine.

“There’s a risk and real danger of a world recession next year,” Malpass said in a dialog with Georgieva at the start of the annual meetings of the two institutions. He cited slowing growth in advanced economies and currency depreciation in many developing countries.

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Georgieva said the IMF saw “a significant problem” in China, the world’s second largest economy, where volatility was dragging down growth. (Reporting by David Lawder and Andrea Shalal; Editing by Chizu Nomiyama)


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