11 Oct 2022

IMF: third of global economy will shrink

The IMF says “the worst is yet to come” – and if that sounds like a tagline from a disaster movie that’s about the right mood.

The IMF thinks more than a third of the global economy will shrink either this year or next.

Everyone is taking a hit from the Russian invasion of Ukraine, the cost of living crisis and a slowdown in China driven by its Covid lockdown policies.