The head of the International Monetary Fund (IMF) has warned that a third of the global economy will be in recession this year.
Kristalina Georgieva said 2023 will be tougher than last year as the US, EU and China see their economies slow.
It comes as the war in Ukraine, rising prices, higher interest rates and the spread of Covid in China weigh on the global economy.
In October the IMF cut its global economic growth outlook for 2023
Ms Georgieva said on the CBS news said that they expect one third of the world economy to be in recession and that even for countries that are not in recession, it would feel like recession for hundreds of millions of people .
