Several organisations, including the International Monetary Fund, have warned of a possible global economic downturn in the next 18 months, heralded by a sharp rise in oil prices. The IMF said on Tuesday that it was "increasingly likely" there would be an increase in inflation and interest rates this year. Some slowdowns were confined to a subset to economies, such as the East Asian financial crisis of 1997/98, while others continue expanding. However, the downturn may not be as severe as the recession that followed the 2008-2009 crisis, with some suggesting it may be a mere "pause" in growth.
Several organisations, including the International Monetary Fund, have warned of a possible global economic downturn in the next 18 months, heralded by a sharp rise in oil prices. The IMF said on Tuesday that it was "increasingly likely" there would be an increase in inflation and interest rates this year. However, the downturn may not be as severe as the recession that followed the 2008-2009 crisis, with some suggesting it may be a mere "pause" in growth.