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Global economy ‘likely to get worse before it gets better’ warns IMF

WASHINGTON (AP) — The International Monetary Fund is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by $4 trillion through 2026.

READ MORE: IMF projects slower growth for world economy as inflation rises

Kristalina Georgieva, managing director of the IMF, told an audience at Georgetown University on Thursday that “things are more likely to get worse before it gets better.”

Georgieva said the institution downgraded its global growth projections already three times, to 3.2% for 2022 and now 2.9% for 2023.