World is 'edging into' a recession, warns WTO chief Ngozi Okonjo-Iweala

"The indicators are not looking good," WTO Director-General Ngozi Okonjo-Iweala said during an interview in Geneva Tuesday. "I think a global recession - that is what I think we are edging into."

Ngozi Okonjo-Iweala, WTO Chief
Premium

World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala (Photo: Reuters)

Bloomberg
The head of the World Trade Organization (WTO) added her voice to a growing chorus of observers who see the global economy headed into a recession. 
 
“The indicators are not looking good,” WTO Director-General Ngozi Okonjo-Iweala said during an interview in Geneva Tuesday. “I think a global recession — that is what I think we are edging into.”
 
Next month, the WTO is expected to slash its trade growth projections for 2022. In April, the Geneva-based trade body lowered its projection for growth in merchandise trade this year to 3 per cent, from its previous projection of 4.7 per cent. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 27 2022 | 10:06 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com