IMF dims outlook for 2023 global economy

WASHINGTON, D.C.: The International Monetary Fund (IMF) is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia's war on Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the coronavirus pandemic.

The 190-country lending agency forecast on Tuesday that the global economy would eke out growth of just 2.7 percent next year, down from the 2.9 percent it estimated in July. The IMF kept its forecast for international growth this year: a modest 3.2 percent, a sharp deceleration from last year's 6-percent expansion.