IMF head expects less than 3% global economic growth in 2023

The International Monetary Fund chief is warning that the world economy is expected to grow less than 3% in 2023, down from 3.4% last year, increasing the risk of hunger and poverty globally

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The International Monetary Fund chief is warning that the world economy is expected to grow less than 3% in 2023, down from 3.4% last year, increasing the risk of hunger and poverty globally.

Kristalina Georgieva said Thursday growth is expected to remain around 3% for the next five years, calling it “our lowest medium-term growth forecast since 1990.” She says slower growth would be a “severe blow, making it even harder for low-income nations to catch up.”

She also warns that poverty and hunger could further increase, a dangerous trend that was started by the COVID crisis.” Her comments come ahead of next week’s spring meetings of the IMF and its sister lending agency the World Bank in Washington.