“The anxiety around access to food at a reasonable price globally is hitting the roof,” she said.
The risks to the global economy are many, leading to an increasingly gloomy view of the months ahead for corporate leaders, government officials and other VIPs at the World Economic Forum’s annual meeting in the Swiss resort town of Davos. The war has been a thread, setting back the global economic recovery from the pandemic, economists say.
The managing director of the International Monetary Fund sought to dispel the gloom this week, saying a global recession isn’t in the cards but “it doesn’t mean it’s out of the question.”
Kristalina Georgieva noted that the IMF expects economic growth of 3.6% for 2022, which is “a long way to global recession.” But she acknowledged that it’s going to be a “tough year” and one of the big problems is surging food prices, partly fueled by Russia’s war.
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