IMF dims outlook for global economy in 2023 amid Russia’s war in Ukraine

The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia’s war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic. “We have high inflation and the deteriorating global economic outlook. At the same time, we have geopolitical risks with economic spillovers from the war in Ukraine. On top of all of this, global financial conditions have tightened as central banks continue to raise interest rates,” Tobias Adrian, IMF’s financial counsellor, announced Tuesday in Washington, D.C., following the release of the…