The International Monetary Fund on Tuesday downgraded the outlook for the world economy this year and next, blaming Russia’s war in Ukraine for disrupting global commerce, pushing up oil prices , threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants. The 190-country lender cut its forecast for global growth to 3.6% this year, a steep falloff from 6.1% last year and from the 4.4% growth it had expected for 2022 back in January. It also said it expects the world economy to grow 3.6% again next year, slightly slower than the 3.8% it forecast in January. Russia-Ukraine war Live updates | Russia-Ukraine War EXPLAINER: How Russia’s eastern push in Ukraine may unfold ‘Not my life’: An apartment block reflects the new Ukraine Citing Russia’s war, IMF cuts global growth forecast to 3.6% The war — and the darkening outlook — came […]

Posted in: IMF