IMF: 2023 will be tougher than 2022 for the world's economies

In an interview with CBS, International Monetary Fund managing director Kristalina Georgieva said: "For most of the world economy this is going to be a tough year; tougher than the year we leave behind. Why? Because the three big economies - US, China and EU - are all slowing down simultaneously." The institution is projecting global growth to be down to 2.7%, or even lower, by the end of the year, dropping from 3.2% in 2022. This was a long way off the 6% seen back in 2021. By October last year, the IMF had downgraded its outlook for global economic growth for this year three times, ...