The International Monetary Fund (IMF) downgraded its outlook for the global economy next year based on the effects of the war in Ukraine, global inflation that requires interest rate hikes and a slowdown in China.
“In short, the worst is yet to come, and for many people 2023 will feel like a recession,” IMF Chief Economist Pierre-Olivier Gourinchas stated.
The IMF, which is the primary financial institution of the United Nations, now forecasts global growth will slow next year by 2.7% —…
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