Recession

04 Jan

Third Of World In Recession This Year, IMF Head Warns

wontumionlineBusinessimf, Kristalina Georgieva, Recession

A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU and China see their economies slow. It comes as the war in Ukraine, rising prices, higher interest rates and the spread of Covid in China weigh on the global economy. In October the IMF cut its global economic growth outlook for 2023. “We expect one third of the world economy to be in recession,” Ms Georgieva said on the CBS news programme Face the…

02 Dec

Our Economy Will Possibly Go Into Recession – Banking Consultant

wontumionlineBusinessBanking Consultant, Dr Richmond Atuahene, Recession

A Banking Consultant, Dr. Richmond Atuahene, has expressed fears that the country’s economy may be heading into recession in 2023. Speaking on JoyNews’ AM Show, on Friday, he explained that his conviction is based on the impact of the impending debt restructuring on the banking sector. The banking consultant said people talk without seriously taking into consideration the debt restructuring process. He said the process itself is capable of exacerbating existing economic challenges. “We’re not going to have it easy. It’s going to be very difficult because everybody is talking, but they haven’t taken into consideration the debt-restructuring process. That itself…