The global economic outlook this year looks gloomy and more uncertain, at least according to the latest research data by the International Monetary Fund.
Several shocks have so far hit the world economy which had already been weakened by the pandemic: higher-than-expected inflation worldwide triggering tighter financial conditions, especially in the US; a worse-than-anticipated slowdown in China, reflecting Covid- 19 outbreaks and lockdowns; and further negative spillovers from the Russia – Ukraine war.
