IMF MD Georgieva warns that global economy faces tougher year in 2023

Coffee export rose almost 2% to 4 lakh tonne in 2022

• Coffee shipments from India, Asia's third-largest producer and exporter, rose 1.66 per cent to 4 lakh tonne in 2022 on rise in instant coffee exports and re-exports, according to the Coffee Board.
• Exports stood at 3.93 lakh tonnes in 2021. In value terms, coffee export was higher at Rs 8,762.47 crore in 2022 as against Rs 6,984.67 crore in the previous year.
• Italy, Germany and Russia are the major export destinations for Indian coffee.
• Coffee production is pegged higher at 3,93,400 tonnes for 2022-23 crop year (October-September), as against the final output of 3,42,000 tonnes achieved last year.

IMF MD Kristalina Georgieva warns that global economy faces tougher year in 2023

• For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all slowing down simultaneously, the head of the International Monetary Fund said.
• In October, the IMF cut its outlook for global economic growth in 2023, reflecting the continuing drag from the war in Ukraine as well as inflation pressures and the high interest rates engineered by central banks like the U.S. Federal Reserve aimed at bringing those price pressures to heel.
• China has scrapped its zero-COVID policy and embarked on a chaotic reopening of its economy, though consumers there remain wary as coronavirus cases surge. Moreover, a “bushfire” of expected COVID infections there in the months ahead are likely to further hit its economy this year and drag on both regional and global growth.