IMF chief does not expect recession but it isn't 'out of the question'

International Monetary Fund Managing Director Kristalina Georgieva on Monday said she does not expect a recession for the world's major economies but also cannot rule one out.

Asked at a panel at the World Economic Forum whether she expected a recession, Georgieva said: "No, not at this point. It doesn't mean it is out of the question."

The global economic outlook has darkened in the month since the IMF downgraded its 2022 growth outlook because of the war in Ukraine, China's slowdown and global price shocks, particularly for food, she said. "In a short period of time...the horizon has darkened."