IMF Warns Of ‘Darkening’ Global Economic Outlook

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IMF Warns Of ‘Darkening’ Global Economic Outlook

The International Monetary Fund is attributing the war in Ukraine, higher than expected inflation, and the on-going Covid pandemic for its decision to downgrade its expectations for global economic growth this month.

IMF Head, Kristalina Georgieva, said these factors are making the cost of living crisis worse for millions.

She said the poorest are suffering the most.

Its most recent forecast was for 3.6% growth this year and next.

Her warning the global economic outlook “has darkened significantly” comes as G20 finance ministers and central bank governors prepare to meet in Bali.

Recently inflation in the United States reached 9.1 percent, the highest in more than forty years.