IMF Projects Moderate Global Growth Amid Persistent Economic Challenges

The IMF raised its 2023 global growth forecast slightly to 3%, but growth remains weak compared to pre-pandemic levels.
Inflation is expected to moderate but remain above central bank targets through 2024.
China's economic recovery is losing momentum due to COVID-19 disruptions and weak foreign demand.
Geopolitical tensions, extreme weather events, and tightening financial conditions pose risks to the global outlook.
The IMF advised that fiscal policy should tighten to rebuild buffers while monetary policy steadily brings inflation back to target levels.