IMF Managing Director Kristalina Georgieva yesterday presented the IMF’s annual report on the state of the American economy, noting “very significant downside risks” – i.e., that the economy is tanking and is expected to get worse.
“We see very significant downside risks [in the U.S. economy] this year and especially next year,” Georgieva stated, singling out high energy prices as the most serious danger. The energy and food crises also hit the developing sector particularly hard, she reported, stressing that the situation around food in the world next year could become worse than this year.
