IMF Slashes Global Growth Forecast for 2023, Warns of Global Recession

The seal for the International Monetary Fund is seen near the World Bank headquarters in Washington on Jan. 10, 2022. Stefani Reynolds/AFP via Getty Images

The International Monetary Fund cut its global growth forecast for 2023, warning of a potential global recession next year.

The IMF lowered its global growth estimates in its Oct. 11 World Economic Outlook report to 2.7 percent, which is down from its 2.9 percent outlook in July.