Global recession risk rising as economic outlook ‘darkens significantly’, IMF says

The outlook for the global economy has “darkened significantly” in recent months, the head of the IMF has warned, and the world faces an increasing risk of recession in the next 12 months.

The commodity price shock from the war in Ukraine had exacerbated the cost-of-living crisis for hundreds of millions of people, Kristalina Georgieva said on Wednesday, and it was “only getting worse”.

Missed meals and constant stress: New Zealand’s cost-of-living crisis hits home

Inflation was also higher than expected, she said in a blogpost that came on the same day as the...