The International Monetary Fund (IMF) is warning of a broad-based and sharper than expected slowdown in global economic activity, with inflation higher than seen in several decades.What is more, IMF Managing Director Kristalina Georgieva has warned that these and other risks were pushing countries to the brink of a recession, resulting in higher levels of food insecurity and instability to financial markets.She said those issues, coupled with the climate crisis and high debt levels must be tackled urgently and through partnerships.“We have to do it, not only with a sense of urgency acting now, we have to do it acting together,” said Georgieva, who gave the assurance that the IMF was working closely with its member states to address the issues.Speaking during the opening press conference at the IMF/World Bank Group annual meetings in Washington on Thursday, the IMF chief said the fund estimates that about 25 per cent of the world’s economy would experience two consecutive quarters of negative growth next year.
