IMF warns of global recession

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In its World Economic Outlook report the International Monetary Fund says that, in a worst case scenario - where oil, gas and food prices spike and remain high this year and next - global growth could fall below 2% in 2026. That's if the US-Israel war with Iran continues and high energy prices persist. It said the most severe conditions that could lead to a worldwide slowdown would include oil prices reaching an average $110 per barrel this year and hitting $125 in 2027. Based on these assumptions, the IMF said inflation could reach as much as 6% next year. We hear how Africa's fuel crunch continues - but with hopes there for a more stable future... Evergrande was once China’s biggest real estate firm, before its debt crisis sent shockwaves through the wider economy.Today the founder of the collapsed property giant Hui Ka Yan pleaded guilty to a series of fraud charges. It's a case that marks a major moment in the fallout from the company’s collapse. And- how a gold pocket watch owned by a hero rescuer during the sinking of the Titanic could fetch up to one hundred and thirty five thousand dollars at auction... Presenter: Leanna Byrne Senior Producer: Craig Henderson