According to a report by the International Monetary Fund (IMF), the global economy is heading for its weakest growth since 1990, with GDP forecasts being cut. The IMF has lowered its growth outlook amid financial system tremors, as banking turmoil has raised the risk of a hard landing. The IMF warns of a heightened recession risk and has slightly lowered its global growth outlook.
The UK is set to be the worst-performing economy in the G7 this year, according to the IMF. In a live business update, the Guardian reports that the IMF predicts the UK is on track for a difficult year economically.
These reports come as the IMF trims its global growth outlook and warns of a heightened recession risk. The New York Times reports that the IMF has lowered its growth outlook amid financial system tremors. The IMF warns that financial risks have increased and that policy uncertainty is weighing on the global economy.
The IMF’s warning comes as Yahoo Finance reports that the global economy is facing heightened recession risk, with a slightly lowered global growth outlook. While the IMF’s report focuses on banking turmoil, Yahoo Finance highlights the overall risk of recession in the economy.
As concerns grow over the global economy, CNBC reports that the IMF warns of the weakest growth since 1990. The report highlights the importance of policy action and the need for continued efforts to strengthen the global economy.
Overall, the latest reports from the IMF suggest that the global economy is facing significant challenges, with a heightened risk of recession. Policymakers will need to take action to strengthen the global economy and mitigate risks.