The IMF said on Tuesday that global growth will moderate to 3.2% this year and stay there in 2025, but cautioned that the steady numbers obscured “important” sectoral and regional changes.
According to the International Monetary Fund’s latest World Economic Outlook (WEO) study, worldwide inflation will continue to decline, reaching 5.8% this year before dropping to 4.3% in 2025.
Pierre-Olivier Gourinchas, the head economist at the IMF, told reporters on Tuesday that the fight against inflation was nearly won. “A significant accomplishment is the drop in inflation without a worldwide recession.
According to the Fund’s WEO assessment, global growth is under increasing threat and is predicted to trend to a dreary 3.1 percent by 2029.
The Fund warned of “important sectoral and regional shifts” occurring over the last six months, stating that “the picture is far from monolithic” beneath the rather placid prognosis for growth through 2025.
According to Gourinchas, there are several negative risks associated with expansion, including the possibility of “an escalation in regional conflict, especially in the Middle East.”
The World Economic Organization’s report was released the day after the IMF and World Bank Annual Meetings began in Washington. These meetings brought together central bankers and finance ministers from all over the world to discuss the state of the world economy.
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