International Monetary Fund
The IMF has called on European governments to pass on rising energy costs to wealthier consumers to encourage "energy conservation" and a switch to greener energy, the Financial Times reports.
Governments across Europe have tried to protect households from skyrocketing costs with broad price controls, tax cuts and subsidies.
"The situation in the world economy is extremely unstable and recessions are not excluded", the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, said in an interview with Reuters.
Asked about a possible global recession, the fund manager stressed: "The risk has increased, so it cannot be ruled out."
Zimbabwe's annual inflation rate quickened to 191.6 percent in June, more than doubling the consumer price increases of two months ago, official statistics showed on June 25.
Inflation which was at 96.4 percent in April, crept up to nearly 200 percent as prices of cooking oil and bread are leaping higher as a result of Russia's invasion of Ukraine.
Europe can get by without Russian gas for six months, but beyond that, the economic impact would be severe, a senior IMF official told AFP.
Alfred Kammer, head of the IMF's European Department, urged countries in the region to take a series of steps to ease the blow, including reducing consumption to build up inventory.
The International Monetary Fund on April 19 downgraded the outlook for the world economy this year and next, blaming Russia's war in Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants.
Washington – The International Monetary Fund (IMF) has downgraded its projections for global economic growth in its latest World Economic Outlook, including Slovenia’s. The country’s GDP is projected to increase by 3.7% this year and by 3% in 2023, a downgrade of 0.9 and 0.6 percentage points, respectively, from the October forecast.