WASHINGTON -- The International Monetary Fund on Tuesday downgraded its global growth forecast for 2023 to 2.7% as the world's largest economies continue to sputter amid widespread rate hikes aimed at reining in inflation.
This marks the first time since 2000 that the IMF has predicted global economic growth of less than 3% for the following year. "More than a third of the global economy will contract this year or next," the report said.
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