IMF to Lower Global 2023 Growth Forecast Amid Shocks to Economy

0
3

WASHINGTON—The head of the International Monetary Fund said that the institution expects slower global economic growth next year and that policy makers must do more to reduce inflation to prevent long-lasting harm.

The IMF will lower its 2023 growth forecast from its earlier estimate of 2.9% in a report to be released next week, said the fund’s Managing Director Kristalina Georgieva in a speech Thursday. She didn’t specify the new estimate, but said it would reflect a darkening outlook as soaring inflation cuts into people’s ability to spend.

Source