IMF predicts that 2023 could be one of the weakest years for global economy in half century

For the third time this year, the International Monetary Fund (IMF) has revised down its global economic growth forecasts. According to IMF forecasts released on Wednesday, global GDP will grow by 3.2% this year and 2.9% next year. This revision of the forecasts "reflects the fading growth in the world's three largest economies - the US, China, and the eurozone - with important implications for the global outlook", explains IMF Chief Economist Pierre-Olivier Gourinchas.