IMF says global economy faces ‘confluence of calamities’ in biggest test since World War II

CNBC/Elliot Smith/5-23-2022

graphic illustration Road to Nowhere

“Spiraling food and energy prices are squeezing households around the world, while central banks are tightening monetary policy to rein in inflation, exerting further pressure on indebted nations, companies and families. When combined with the spike in volatility in financial markets and persistent threat from climate change, the IMF said the world faces a ‘potential confluence of calamities.’”

USAGOLD note: This may be the gloomiest forecast on the economy ever published by the International Monetary Fund. A confluence of calamities, we will add, that has been in the making for a very long time.

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