The global economy is headed for “stormy waters,” the International Monetary Fund said on Tuesday as it cut its projection for growth next year and warned that high inflation was worsening living conditions.
The United Nations financial agency forecast that the global economy will grow 2.7 percent in 2023, down from a projected 3.2 percent this year and six percent in 2020. The projections were released in the latest edition of its widely watched World Economic Outlook. Top economic officials from around the world are in Washington, D.C. this week for meetings at the IMF and the World Bank.
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