Global economic growth set to fall below 3% this year, IMF chief warns

Kristalina Georgieva, of the International Monetary Fund, warned about the state of the world economy (Dake Kang/AP)

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

Kristalina Georgieva said growth is expected to remain around 3% for the next five years, calling it “our lowest medium-term growth forecast since 1990, and well below the average of 3.8% from the past two decades”.