IMF Warns Five-Year Global Growth Outlook Weakest Since 1990
- Georgieva cites Russian invasion, economic fragmentation
- World economy seen expanding about 3% annually for five years
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The International Monetary Fund warned that its outlook for global economic growth over the next five years is the weakest in more than three decades, urging nations to avoid economic fragmentation caused by geopolitical tension and take steps to bolster productivity.
The emergency lender sees the world economy expanding about 3% over the next half decade as higher interest rates bite, Managing Director Kristalina Georgieva said in a speech in Washington Thursday. That’s the lowest medium-term growth forecast since 1990 and less than the five-year average of 3.8% from the past two decades.