International Monetary Fund (IMF) Research Development Director Pierre-Olivier Gourinchas announced on Tuesday that the organization has downgraded the global economic outlook amid colliding pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest rates, warning that conditions could worsen significantly next year.
- COVID fades from world economic agenda against other shocks like inflation, climate
- North American markets slightly down as investors wait for inflation data
- S&P/TSX composite falls more than 350 points, following U.S. Monday drop