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Business Matters: "Very real risk" of global economic recession, says IMF

Global economic slowdown has intensified, says IMF

16/09/2022 GMT

"Very real risk" of global economic recession, says IMF

BBC World Service - Business Matters, "Very real risk" of global economic recession, says IMF

Its latest report says the global economy is in a precarious situation at the moment.

The report says some countries will fall into recession in 2023, but that it's too early to say for sure whether there will be a global recession. We get more analysis from one of the report's authors, Franziska Ohnsorge.

The UK's finance ministry is considering removing limits on bankers' bonuses. How will this affect its financial services industry, and and is the government right to do this in a cost of living crisis? We speak to Pete Hahn, emeritus professor at the London Institute of Banking and Finance.

Kenya's new President William Ruto has scrapped a petrol subsidy, and retail prices are now at an all-time high. The BBC's Charles Gitonga reports from Nairobi.

And rapper Kanye West wants to terminate his partnership with the retailer Gap. He says Gap hasn't fulfilled the terms of their contract, which was aimed at breathing new life into its brand. Julie Zerbo, founder of The Fashion Law website, analyses what this will mean for both parties.

Will Bain is joined throughout the programme by Paddy Hirsch, contributing editor at NPR in Los Angeles, and by Yoko Ishikura, professor emeritus at Hitotsubashi University and currently a member of the World Economic Forum’s Expert Network, who's in Tokyo. 

(Picture: The IMF logo on a column. Credit: Andrew Caballero-Reynolds/AFP via Getty Images)

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