IMF cuts global growth forecasts for fourth time this year, warning 2023 'will feel like a recession'

A petrol station attendant fills the tank of a car in Karachi, Pakistan. In its latest world economic outlook report, the IMF warned that more than a third of the global economy will contract this year or next, while the three largest economies — the US, the EU and China — will continue to stall. Photograph: Rehan Kahn The International Monetary Fund (IMF) has cut its growth forecasts for global economy for the fourth time this year, blaming the deteriorating outlook on Russia's invasion of Ukraine, broadening inflation pressures and a slowdown in China. In its latest world economic outlook…