IMF head expects less than 3% global economic growth in 2023

By FATIMA HUSSEIN and JOSH BOAK
Associated Press

WASHINGTON (AP) — The International Monetary Fund chief is warning the world economy is expected to grow less than 3% in 2023, down from 3.4% last year, increasing the risk of hunger and poverty globally. Kristalina Georgieva said Thursday growth is expected to remain around 3% for the next five years, calling it the “lowest medium-term growth forecast since 1990.” Georgieva says slower growth would be a “severe blow, making it even harder for low-income nations to catch up.” Georgieva also warns poverty and hunger could further increase, a dangerous trend started by the COVID-19 pandemic. Georgieva’s comments come ahead of next week’s spring meetings of the IMF and the World Bank in Washington.