IMF issues global growth warning as it lowers 2023 forecast

Sakshi Education

The International Monetary Fund slightly lowered its outlook for the global economy while predicting that most countries will avoid a recession this year despite economic worries and geopolitical strains.
Concerns over high inflation, rising geopolitical tensions and financial stability hang over the updated forecasts, with the impact of war in Ukraine continuing to dampen growth and drive up consumer prices in many countries.
Persistent economic concerns could overshadow plans by the IMF and World Bank to promote an ambitious reform and fundraising agenda at this year's spring meetings.In its World Economic Outlook (WEO) report, the IMF predicts the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its January forecasts.
The IMF's expectations for the United States were slightly rosier: the world's largest economy is expected to grow by 1.6 percent in 2023, marginally higher than previously predicted.

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