Outlook for global economy is brighter, though still modest by historical standards: IMF

Open this photo in gallery: IMF Chief Economist Pierre-Olivier Gourinchas and IMF Research Department Deputy Director Petya Koeva Brooks hold a news briefing at IMF headquarters, in Washington, on April 16.MANDEL NGAN/Getty Images The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a "soft landing" - reining in inflation without much economic pain and producing steady if modest growth. The IMF now envisions 3.2 per cent worldwide expansion this year, up a tick from the 3.1 per cent it had predicted in January and matching 2023"²s pace. And it…