IMF Warns ‘Worst is Yet to Come’ as Steps to Slow Inflation Raise Risks
- One third of global economy may tip into contraction next year
- Caution comes as leaders gather in Washington for IMF meetings
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The International Monetary Fund warned of a worsening outlook for the global economy, highlighting that efforts to manage the hottest inflation in decades may add to the damage from the war in Ukraine and China’s slowdown.
The IMF cut its forecast for global growth next year to 2.7%, from 2.9% seen in July and 3.8% in January, adding that it sees a 25% probability that growth will slow to less than 2%.