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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Report on Sambhal mosque survey likely to be submitted to local court; security tight in district
Sambhal(UP) (PTI): Security was stepped up across the district ahead of Friday prayers and the likely submission of a report on the survey of the Shahi Jama Masjid here by the court-appointed ASI team following claims that a temple once stood at the spot.
Tension has been brewing in Sambhal since November 19 when the court-ordered survey of the Shahi Jama Masjid was carried out following claims that a Harihar temple previously stood at the site.
Divisional Commissioner of Moradabad, Aunjaneya Kumar Singh said security measures have been reinforced at sensitive religious sites in the area and around the court in Chandausi.
The lawyer for the Hindu side, Gopal Sharma, said the court hearing on Friday will see the plaintiff's side present their reply, and the court commissioner is expected to submit the findings from the survey conducted on the disputed site.
"Our further action will be determined after the survey report is reviewed," Sharma said.
Shakeel Ahmed Warsi, the lawyer representing the Muslim side, said they are fully prepared to present their case.
"We have all the necessary evidence, and we will first request a copy of the survey report before strongly presenting our side in court," Warsi stated.
Violence erupted on November 24 as protesters gathered near the mosque and clashed with security personnel, leading to stone pelting and arson. Four people died and scores of others were injured in the violence.
The situation remains tense, and local authorities are closely monitoring the developments to maintain peace and order.
