IMF slashes global growth forecast and raises inflation projections

The IMF has slashed its global growth forecasts and raised its projections for inflation, warning that the risks to the economic outlook are “overwhelmingly tilted to the downside”.

The downgraded estimates, released on Tuesday, come as the world grapples with the fallout from Russia’s invasion of Ukraine, prolonged disruptions caused by the pandemic and rapidly tightening financial conditions, with central banks seeking to…