In pictures: IMF warns of stubborn inflation, weaker global growth in 2024

IMF left its forecast for global real GDP growth in 2023 unchanged at 3.0% in its outlook

Published: October 10, 2023 17:00 Compiled by Nivetha Dayanand, Web Editor, with inputs from Bloomberg

1 of 10

The International Monetary Fund (IMF) raised its global inflation forecast for the next year. Image Credit: Bloomberg

2 of 10

The IMF's projection for global consumer price increases in the next year is 5.8%, up from the previous estimate of 5.2%. Image Credit: REUTERS

3 of 10

The IMF advises central banks to maintain tight monetary policies until there is a sustained decrease in inflation. Image Credit: AP

4 of 10

In most countries, the IMF anticipates inflation remaining above central bank targets until 2025. Image Credit: AFP

5 of 10

The IMF released these forecasts during its annual meetings held in Marrakech, Morocco, the first time in 50 years that they were held in Africa. Image Credit: AFP

6 of 10

Global central banks, including the US and European Union, have raised interest rates aggressively in response to high inflation. Image Credit: AP

7 of 10

Factors contributing to the surge in inflation include supply chain disruptions due to the pandemic, fiscal stimulus, strong demand, and geopolitical factors like Russia's attack on Ukraine. Image Credit: REUTERS

8 of 10

The IMF forecasts global economic growth of 2.9% for the next year, slightly down from its previous estimate. Image Credit: AP

9 of 10

The US had its economic growth projection revised upwards, while China's growth estimate was lowered due to real estate and economic challenges. Image Credit: Bloomberg

10 of 10

The IMF warns of the potential fragmentation of the global economy into geopolitical blocs due to tensions between major powers and trade barriers, with trade growth slowing down as a result. Image Credit: AP

Photos Business

In pictures: IMF warns of stubborn inflation, weaker global growth in 2024

More From Photos

Colm McLoughlin: Life and times in pictures

GULFNEWS SECTIONS

Trending

In pictures: IMF warns of stubborn inflation, weaker global growth in 2024

More From Photos

Colm McLoughlin: Life and times in pictures

GULFNEWS SECTIONS