The International Monetary Fund has predicted that global financial markets should brace for a tumultuous 2023.

International Monetary Fund (IMF) managing director Kristalina Georgieva said in an interview on American TV station CBS that 2023 is going to be tougher for global economy than 2022.

”This year is going to be tougher than the year we leave behind. Why? Because the three main economies – the U.S., EU and China – are all slowing down simultaneously. For the first time in 40 years, China’s growth in 2022 is likely to be at or below global growth”, Georgieva commented on the CBS Sunday morning news program “Face the Nation.”

The IMF chief also noted that ”I was in China last week, in a bubble in a city where there is zero COVID. But that is not going to last once people start traveling. For the next couple of months, it would be tough for China, and the impact on Chinese growth would be negative, the impact on the region will be negative, the impact on global growth will be negative”.

Source: CBS