IMF: Global Economy Sees Slight Growth

The International Monetary Fund (IMF) said Tuesday the global economy continues to gradually recover from the pandemic and Russia's invasion of Ukraine, but is "not yet out of the woods." The Fund's Chief economist, Pierre-Olivier Gourinchas gave his assessment as the organization projected that global economic growth will slow to an estimated 3% in 2023 and 2024, down from 3.5% in 2022. The IMF also reported a ''slowing growth'' for sub-Saharan Africa from 3.9% in 2022 to 3.5% this year. "That's a very mild downward revision for 2023, about 0.1 percentage points," Gourinchas said.