\t\t\t\t\t![\"\"](\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2022\/11\/bitcoin-3134829_1920-1200x600.jpg\" "\\"IMF")
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- Kristalina Georgieva (a top-level IMF executive) warns of an impending economic recession affecting more than 33 percent of the global economies.<\/strong><\/li>\n
- It is worth noting that there is no historical data to compare Bitcoin and the crypto market\u2019s performance during a recession, as they have never traded in such periods.<\/strong><\/li>\n<\/ul>\n
\nWhile the consequences of the FTX crash are still ravaging the Bitcoin and crypto markets, Kristalina Georgieva (a top-level IMF executive) has warned of an impending economic recession affecting more than 33 percent of the global economies. In a recent interview<\/a>, the IMF executive predicted a problematic 2023 for economies worldwide.<\/p>\n
According to Georgieva, the current slowdown in China\u2019s economic growth is a massive threat to other economies. She also predicted a slowdown in the economies of the top two growth engines (Europe and the US).<\/p>\n
The slowdown in economic growth<\/h3>\n
She further stated;<\/p>\n
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China\u2019s economic growth this year will drop below other global economies, a first in 40 years. Also, the ongoing Ukraine-Russia war is proof of an imminent slowdown in EU\u2019s economic growth.<\/p>\n<\/blockquote>\n
Georgieva also predicted a difficult year for emerging economies, saying the slowdown in top economies will have a substantial negative impact on these emerging markets.<\/p>\n
She opines that 2023 will be more challenging than 2022 in all aspects of economic growth. The IMF chief added that 50 percent of the EU will be in recession this year. However, the US\u2019 resilient economy will help it avoid a recession. She cited the strong labor market of the US as a reference for the nation\u2019s strong economic resilience.<\/p>\n
Georgieva argued that the strong labor market is a mixed blessing as it means that the fed will continue to tighten interest rates to curtail inflation. Hence, the US labor market data would be a crucial deciding factor when the US central bank meets to justify a pivot, as it has done in the last FOMC meetings. It is worth mentioning that much of the critical data on the labor market will be out in the next week, while the next inflation data will be out by January 12, 2023.<\/p>\n
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2023 IMF PREDICTION: \u201cWe expect one-third of the world economy to be in recession,\u201d IMF Managing Director Kristalina Georgieva tells @margbrennan<\/a>. But, a strong U.S. labor market might help the world get through a difficult year, she says. pic.twitter.com\/Vbhj478pFo<\/a><\/p>\n
- It is worth noting that there is no historical data to compare Bitcoin and the crypto market\u2019s performance during a recession, as they have never traded in such periods.<\/strong><\/li>\n<\/ul>\n
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