IMF outlook worsens for a ‘limping’ world economy. Mideast war poses new uncertainty
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(Worthy News) – The world economy has lost momentum from the impact of higher interest rates, the invasion of Ukraine and widening geopolitical rifts, and it now faces new uncertainty from the war between Israel and Hamas militants, the International Monetary Fund warned Tuesday.
The IMF said it expects global economic growth to slow to 2.9% in 2024 from an expected 3% this year. The forecast for next year is down a notch from the 3% it predicted back in July.
The deceleration comes at a time when the world has yet to fully mend from a devastating but short-lived COVID-19 recession in 2020 and now could see fallout from the Middle East conflict — particularly to oil prices. [ Source (Read More…) ]
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