IMF Downgrades Global Growth Forecasts and Warns of Fragile Economy

The International Monetary Fund (IMF) has downgraded its global growth forecasts, predicting that the world economy will expand by 2.8% this year and 3% in 2024. These figures are slightly below the IMF's previous estimates published in January, with a cut of 0.1 percentage point for both this year and next.[0] The IMF warns that global growth could fall below 2% this year with a 25% probability.[1] Meanwhile, global headline inflation is expected to fall from 8.7% last year to 7% this year, with core inflation declining more slowly.[2] Advanced economies are expected to experience a pronounced growth slowdown from 2.7% in 2022 to 1.3% in 2023.[3] The IMF predicts that China's economy will quicken to 5.2% GDP growth in 2023 from 3% last year but will slow to 4.5% in 2024. The IMF's managing director, Kristalina Georgieva, has warned that a more fragile global economy will bring slower growth and greater financial fragility.[4]

0. “IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990” CNBC, 11 Apr. 2023,

1. “Global Financial System Tested by Higher Inflation and Interest Rates” International Monetary Fund, 11 Apr. 2023,

2. “Global economy ‘entering perilous phase' amid ‘much stickier' inflation, says IMF” The Irish Times, 11 Apr. 2023,

3. “Ultra Low Interest Rates Will Be Back — But That's Not Entirely A Good Thing For Real Estate” Bisnow, 11 Apr. 2023,

4. “‘Something is going to go boom': IMF chief warns of a more fragile global economy” POLITICO, 6 Apr. 2023,

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