In pictures: IMF warns of stubborn inflation, weaker global growth in 2024

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In pictures: IMF warns of stubborn inflation, weaker global growth in 2024

IMF left its forecast for global real GDP growth in 2023 unchanged at 3.0% in its outlook

Published: October 10, 2023 17:00 Compiled by Nivetha Dayanand, Web Editor, with inputs from Bloomberg

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Copy of 402875651-1696942047853 — The International Monetary Fund (IMF) raised its global inflation forecast for the next year. Image Credit: Bloomberg

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Copy of 2023-10-10T093033Z_1881060545_RC2KP3APZAEG_RTRMADP_3_IMF-WORLDBANK-FINANCIAL-STABILITY [1]-1696942051832 — The IMF's projection for global consumer price increases in the next year is 5.8%, up from the previous estimate of 5.2%. Image Credit: REUTERS

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Copy of IMF_Global_Economy_63387--4c9fb [1]-1696942068770 — The IMF advises central banks to maintain tight monetary policies until there is a sustained decrease in inflation. Image Credit: AP

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Copy of 255827-01-02-1692182729531 — In most countries, the IMF anticipates inflation remaining above central bank targets until 2025. Image Credit: AFP

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Copy of 666411-01-02-1696942038135 — The IMF released these forecasts during its annual meetings held in Marrakech, Morocco, the first time in 50 years that they were held in Africa. Image Credit: AFP

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Copy of Morocco_IMF_Annual_Meetings_65906--136fa-1696942044718 — Global central banks, including the US and European Union, have raised interest rates aggressively in response to high inflation. Image Credit: AP

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Copy of 2023-10-09T150827Z_77539936_RC21P3AECK3I_RTRMADP_3_IMF-WORLDBANK-MOROCCO-1696942072835 — Factors contributing to the surge in inflation include supply chain disruptions due to the pandemic, fiscal stimulus, strong demand, and geopolitical factors like Russia's attack on Ukraine. Image Credit: REUTERS

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Copy of IMF_Global_Economy_79610--633d3 [1]-1696942064427 — The IMF forecasts global economic growth of 2.9% for the next year, slightly down from its previous estimate. Image Credit: AP

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Copy of 402814805-1696942075635 — The US had its economic growth projection revised upwards, while China's growth estimate was lowered due to real estate and economic challenges. Image Credit: Bloomberg

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Copy of IMF_Global_Economy_13074--c8d61-1696942061870 — The IMF warns of the potential fragmentation of the global economy into geopolitical blocs due to tensions between major powers and trade barriers, with trade growth slowing down as a result. Image Credit: AP

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