International Monetary Fund – Page 9

I.M.F. to Lower Global Outlook as Recession Risks Rise

The head of the International Monetary Fund, Kristalina Georgieva, painted a dark picture of the global economy.

The lender of choice for many nations over the past decade, Beijing now has the power to cut them off, lend more or forgive some of their debts.

Low-income countries, like Ghana and Pakistan, were already struggling during the pandemic. The dollar’s strength is adding to their woes.

A 1997 financial catastrophe casts a long shadow in countries that are seeing the value of their money plunge to record lows.

The International Monetary Fund is just one of the many voices that have criticized a plan to cut rates for high earners.