IMF Warns ‘Worst Is Yet to Come’ as Steps to Slow Inflation Raise Risks

(Bloomberg) — The International Monetary Fund warned of a worsening outlook for the global economy, suggesting that efforts to manage the highest inflation in decades may compound damage from Russia’s war in Ukraine and China’s economic slowdown.

The IMF cut its forecast for global growth next year to 2.7% from a July projection of 2.9% and January’s 3.8%. The financial unit of the United Nations estimated a 25% probability that growth will slow to less than 2%.