International Monetary Fund (IMF) President Georgieva said in Washington, D.C., on the 6th of local time, the current risk of global economic recession is intensifying, the IMF will lower the global economic growth forecast for next year.

　　Georgieva delivered the opening speech of the IMF's annual fall meeting at Georgetown University that day. She said that in the past three years the world has suffered "multiple shocks", including the new crown epidemic, the Russian-Ukrainian conflict, weather disasters, these shocks caused casualties, but also pushed up global prices, especially food and energy prices. Georgieva said that the global economy is changing from a "relatively predictable world" to a "more fragile world".

　　IMF in July this year released the "World Economic Outlook Report" update, the world economic growth in 2022 and 2023 are expected to be lowered to 3.2% and 2.9%.

　　Georgieva said on the same day, by the Russian-Ukrainian conflict, the new crown epidemic, inflation, supply chain problems, the IMF will be updated next week in the "World Economic Outlook Report" again lowered the global economic growth forecast for 2023.

　　Georgieva also said that the current risk of the global economy falling into recession is increasing. the IMF expects that countries accounting for about one-third of the global economy will experience two consecutive quarters of economic decline this year or next year. Even in countries with positive economic growth, people will "feel like a recession" because of rising prices and lower real incomes, and the IMF expects that between now and 2026, global output losses will reach about $4 trillion, equivalent to the size of the entire German economy.

　　Faced with the current situation, Georgieva pointed out that the first task is to curb inflation. Insufficient tightening of monetary policy will lead to inflation becoming more stubborn and more difficult to tackle, thus causing more damage to economic growth and people's well-being. Second, to develop a responsible fiscal policy that protects the vulnerable while avoiding fuelling inflation. Third, work together to support emerging markets and developing economies.

　　Georgieva stressed that only by working together can countries solve the current global challenges, such as food security issues, climate change, etc.

　　The fall annual meetings of the IMF and the World Bank will be held in Washington from 10 to 16 this month.