IMF head projects slightly stronger global growth in 2024 and warns of potential long-term pitfalls

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The head of the International Monetary Fund says strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year. That’s below the annual historic average and a warning sign about potential lackluster performances through the 2020s. Managing Director Kristalina Georgieva announced the economic projection and longer-term outlook on Thursday. She said that “without a course correction, we are indeed heading for ‘the Tepid Twenties’ -– a sluggish and disappointing decade.” The IMF and its fellow lending agency, the World Bank, will hold their spring meetings next week in Washington. That’s when finance ministers, central bankers and policymakers will discuss the global economy’s most pressing issues.