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International Monetary Project Disappointing Global Economy and Alerts of Famine Risk


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The director of the International Monetary Fund warned that the global economy is expected to grow by less than 3% in 2023, compared to 3.4% last year, which will increase the risks of hunger and poverty in the world.

Kristalina Georgieva said today Thursday that growth is expected to remain at around 3% for the next five years, calling it “our lowest medium-term growth forecast since 1990.”

The official added that slowing growth would be “a major blow that will make it hard for low-income countries to simply catch up.”

He also warned of a potential rise in poverty and hunger, a dangerous trend brought on by the COVID-19 crisis.

Georgieva’s comments came ahead of the upcoming spring meetings of the International Monetary Fund and its sister lending institution, the World Bank, in Washington.

Source: AB

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