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

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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 dialogue 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.

Georgieva said the IMF saw “a significant problem” in China, the world’s second largest economy, where volatility was dragging down growth.

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