Dear Editor,

The International Monetary Fund (IMF) just released its ‘World Economic Outlook’, highlighting both the global economy’s advantages and disadvantages.

On the plus side, the research predicts 4.9 per cent growth in the world economy in 2023, a good rebound from the COVID-19 pandemic. Furthermore, the paper highlights the significance of maintaining fiscal and monetary policy assistance in order to secure long-term economic growth.

The report also emphasizes the threat of rising inflation as well as the potential impact of climate change on the global economy. However, the IMF also warns of several risks that could impede this growth, including the rising levels of debt in both advanced and emerging economies, which could cause financial instability.

Overall, the IMF’s most recent ‘World Economic Outlook’ offers a gloomy assessment of the world economy’s difficulties in the years to come. Although there are good reasons to be hopeful about the potential for growth, if future economic downturns are to be avoided, authorities must be watchful and take proactive measures to address these risks.

Tajay Francis

mrtajayfrancis@gmail.com