Inflation, Ukraine war make world economy gloomier than last month: IMF

In last month's WEO, IMF cut its forecast for global growth next year to 2.7%, from 2.9% seen in July and 3.8% in Jan, adding that it sees a 25% probability that growth will slow to less than 2%

The International Monetary Fund said prospects for the world economy are more pessimistic than what it forecast last month as downside risks from the effects of Russia’s war and persistent inflation materialize. 

A steady worsening in recent months for purchasing manager indexes that track Group of 20 economies “confirm that the outlook is gloomier” than outlined in the October World Economic Outlook, Tryggvi Gudmundsson, an economist in the IMF’s research department, said in a blog post Monday. The difficulties “are immense, and weakening economic indicators point to further challenges ahead.”

In last month’s WEO, the Washington-based fund IMF cut its