IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990

The International Monetary Fund on Tuesday released its weakest global growth expectations for the medium term in more than 30 years.

The Washington, D.C.-based institution said that five years from now, global growth is expected to be around 3% — the lowest medium-term forecast in an IMF World Economic Outlook report since 1990.

“The world economy is not currently expected to return over the medium term to the rates of growth that prevailed before the pandemic,” the fund said in its latest economic outlook.