Less than 3% world economic growth predicted due to geopolitical divisions and US bank failures, says IMF chief

High interest rates, US bank failures and geopolitical divisions in Europe are reasons why the world economy is expected to grow less than 3% in 2023, the chief of the International Monetary Fund (IMF) has said. The growth is down from 3.4% last year, and even further below the average of 3.8%, increasing the risk of hunger and global poverty. “Poverty and hunger could further increase, a dangerous trend that was started by the COVID crisis,” IMF chief Kristalina Georgieva said, when speaking at a Politico event on Thursday. Around 15% of low-income countries are currently in debt, and another…