Gita Gopinath on the economy: “Tough year ahead”

Gita Gopinath, Economic Counsellor and Director of the Research Department at the International Monetary Fund. Image Credit: Reuters

Gita Gopinath is an Indian-American economist who serves as the deputy managing director of the International Monetary Fund (IMF).
The Global economy is expected to slow further in the coming years. Due to the Russian invasion of Ukraine human and economic life has paid a heavy price. The global economy has continued to wither.
There have been significant disruptions in the trade of food and fuel resulting in price shocks, all of which have contributed to high inflation and subsequent stiffening of global financing conditions.

Gita Gopinath shared a message from Davos where she is attending the World Economic Forum.
In the video she shared on Twitter, Gopinath says, “We are in Davos and if I were to describe IMF’s outlook for 2023 in one line, it would be that we have a tough year ahead but there are signs of resilience.”

She reasons that amid Russia’s invasion of Ukraine, rising inflation combined with the impact of the coronavirus pandemic will impact 2023. “A tough year, because we have high levels of inflation around the world, even though it’s been coming down the last few months. Tough year because we still have the war and its spill-overs to the rest of the world.”

Staff Reporter

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