IMF warns of higher recession risk and darker global outlook

International Monetary Fund Managing Director Kristalina Georgieva speaks on the global economic outlook and key issues to be addressed at this month’s IMF and World Bank Annual Meetings, at Georgetown University in Washington, Thursday, Oct. 6, 2022. (J Scott Applewhite/AP/PA)

The International Monetary Fund is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by four trillion dollars (£3.5 trillion) through to 2026.

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