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IMF dims outlook for 2023 global economy amid Ukraine war
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International Monetary Fund managing director Kristalina Georgieva speaks before introducing a panel discussion at the 2022 Annual Meetings of the International Monetary Fund and the World Bank Group, Monday, Oct. 10, 2022, in Washington. - photo by AP Photo/Patrick Semansky
WASHINGTON (AP) — The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia’s war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic. The 190-country lending agency forecast Tuesday that the global economy would eke out growth of just 2.7% next year, down from the 2.9% it had estimated in July. The IMF left unchanged its forecast for international growth this year — a modest 3.2%, a sharp deceleration from last year’s 6% expansion.