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IMF Upgrades Global Economic Outlook as Inflation Eases

Mount Equity Group Tokyo Japan > News > Markets > IMF Upgrades Global Economic Outlook as Inflation Eases

WASHINGTON — The International Monetary Fund said on Monday that it expected the global economy to slow this year as central banks continued to raise interest rates to tame inflation, but it also suggested that output would be more resilient than previously anticipated and that a global recession would probably be avoided.

The I.M.F. upgraded its economic growth projections for 2023 and 2024 in its closely watched World Economic Outlook report, pointing to resilient consumers and the reopening of China’s economy as among the reasons for a more optimistic outlook.

The fund warned, however, that the fight against inflation was not over and urged central banks to avoid the temptation to change course.

“The fight against inflation is starting to pay off, but central banks must continue their efforts,” Pierre-Olivier Gourinchas, the I.M.F.’s chief economist, said in an essay that accompanied the report.

Global output is projected…

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