The global economy could be hurtling toward one of the sharpest slowdowns in recent memory, the International Monetary Fund (IMF) warned today. A full shut-off of Russian gas flows to Europe and more upside inflation shocks would plunge growth into among the worst brackets since the 1970s. The global economic watchdog said if existing headwinds intensify, expansion will drop to 2.6 percent and two percent in 2023 respectively, “putting growth in the bottom 10 percent of outcomes since 1970”. In the organization’s most likely scenario,…
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