African and Middle Eastern nations face a prolonged inflation battle, according to the IMF

According to the chief economist at the International Monetary Fund, progress in reducing inflation is more noticeable for developed economies like the United States, but it will take longer for nations in the Middle East and Sub-Saharan Africa, which are still dealing with double-digit price increases.

At a news conference, Pierre-Olivier Gourinchas also stated that the chances of a U.S. recession have decreased since the country’s robust economic performance is being driven by increases in labor supply and productivity brought about by immigration.