IMF Chief Warns of Weakest Global Economic Growth Since 1990

The global economy is set to experience its weakest growth since 1990, according to the head of the International Monetary Fund (IMF), Kristalina Georgieva. The combination of trade tensions, geopolitical risks, and a slowing Chinese economy have all contributed to this forecasted downturn. The IMF’s outlook serves as a wake-up call for governments and investors alike, as they grapple with the challenges of sustaining economic growth and stability in an increasingly complex global environment. In this article, we delve deeper into the factors contributing to this weakened outlook and explore potential implications for businesses and the global community.


The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that global growth is set to slow down significantly due to higher interest rates set by top central banks. In a speech before the IMF spring meetings in Washington DC, Georgieva said that the sharp slowdown experienced last year after the Covid pandemic and the Russian invasion of Ukraine would persist in 2023 and possibly last for the next five years. She said that global growth would remain at around 3% over the next five years, the lowest medium-term growth forecast since 1990. Low-income countries were suffering from higher borrowing costs and falling demand for their exports, while 90% of advanced economies would experience a decline in their growth rate this year.


In conclusion, the remarks made by Kristalina Georgieva regarding the state of the global economy are a stark reminder of the challenges we face in the coming years. With the growth rate set to slow down to its weakest level since 1990, it is evident that nations and world leaders must take proactive measures to mitigate the impact of this downturn. It is incumbent upon them to work towards fostering policies that promote growth, investment and development, and address the pressing challenges posed by climate change, conflict and inequality. By working together, we can help sustain the global economy and create a more equitable future for all.