Global Economy in 2023: How to Avert a Global Recession

The world economy has been suffering a series of destabilizing shocks. Consensus forecasts for global growth in 2023 have been downgraded significantly over the past six months. Although these forecasts do not point to a global recession for now, the steep slowdown heightens the likelihood of a global recession should one of the many downside risks materialize. A forceful and wide-ranging policy response is required to avert a global recession, bolster macroeconomic frameworks, boost medium-term growth prospects, and address climate change. Join CGD and the World Bank for an informed discussion of these issues and necessary policy responses after the release of the World Bank’s 2023 January Global Economic Prospects report.