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WTO chief says global economy is heading into a recession

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(VOVWORLD) - World Trade Organization Director-General Ngozi Okonjo-Iweala said Tuesday that the global economy is heading into a recession caused by the conflict between Russia and Ukraine, climate change, rising energy prices, food insecurity, and the COVID-19 pandemic.
WTO chief says global economy is heading into a recession - ảnh 1World Trade Organization Director-General Ngozi Okonjo-Iweala  (Photo: AFP/VNA)

She said the World Bank and the International Monetary Fund have slashed their growth  forecasts for the global economy and trade indicators are no longer positive.

Okonjo-Iweala said that insecurity, climate change, and soaring energy and food prices are affecting all countries, making normal economic activity unsustainable. Central banks are hiking interest rates.

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