IMF warns of higher recession risk and darker global outlook
Washington(AP/PTI): The International Monetary Fund is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by USD 4 trillion through 2026.
Kristalina Georgieva, managing director of the IMF, told an audience at Georgetown University on Thursday that things are more likely to get worse before it gets better", saying the Russian invasion of Ukraine that began in February has dramatically changed the IMF's outlook on the economy.
Many countries are already seeing major impacts of the war on their economies.
Georgieva said the institution downgraded its global growth projections already three times. It now expects 3.2 per cent for 2022 and now 2.9 per cent for 2023.
The risks of recession are rising, she said, adding that the IMF estimates that countries making up one-third of the world economy will see at least two consecutive quarters of economic contraction this or next year.
The projections come after the OPEC+ alliance of oil-exporting countries decided on Wednesday to sharply cut production to support sagging oil prices in a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for US drivers just ahead of key national elections. (AP)
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K'taka Minister Parameshwara distances himself from 'next CM' slogans raised by supporters
Bengaluru (PTI): Karnataka Home Minister G Parameshwara on Thursday distanced himself from slogans raised by his supporters in Tumakuru, projecting him as the next Chief Minister, and asserted that he would not fuel speculation or lobby for the post as any decision rests with the party high command.
Speaking to reporters in Bengaluru, Parameshwara said he had no role in the slogans raised by his followers and reiterated that leadership decisions would be taken at the appropriate time by the party leadership.
“I am not prepared to create any more confusion,” he said, adding that “our High Command will take a decision at the appropriate time.”
Responding to questions about alleged lobbying by party workers and supporters, he said, “I am not going to do any lobbying. Didn’t you hear what I said yesterday? Someone asked me whether I was going to Delhi. I did not go to Delhi. That’s it.”
The minister also said such decisions are left to the Congress high command.
He maintained that while well-wishers may express their feelings, he had discouraged them from doing so.
“Our well-wishers here may be expressing their feelings. How can I tell them not to do that? I have told them not to do it… but in all this, as I said, I am not going to join or encourage this confusion,” he said.
Regarding missing children cases, the Home Minister said the government was taking it seriously.
He also said that instructions had been issued to trace foreigners overstaying their visas.
He also referred to ongoing verification drives in Bengaluru to identify illegal stay and scrutinise identity documents.
Reiterating that recruitment to vacant government posts would continue in a phased manner, Parameshwara said discussions would be held on employment generation and other administrative matters.
