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Listen Live
Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
The International Monetary Fund on Tuesday slashed its global growth outlook for next year, warning the world economy is headed for “stormy waters” and that there is a growing risk of a painful worldwide recession if major central banks fumble the fight against inflation.
The Washington-based institution said in its latest World Economic Outlook that global gross domestic product will still grow by 3.2% this year, but now anticipates it will slow sharply to just 2.7% in 2023. That is down a 0.2 percentage point from its previous estimate and is a marked decline from its estimate of 4.4% at the beginning of the year.
