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News Forum - WTO chief says world economy tipping towards recession

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The World Trade Organisation chief is echoing others in their concern over the world economy falling into a recession. WTO director-general Ngozi Okonjo-Iweala didn’t hold back when she recently commented on the situation. “The indicators are not looking good. I think a global recession-that is what I think we are edging into.” Her analysis comes as the WTO intends to slash its trade growth projections for 2022. In April, it lowered its projection for growth in merchandise trade this year to three per cent, down from almost five per cent. The decrease in growth projection comes after Paris-based OECD cut […]

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