IMF Warns of Looming , Global Recession.br On July 26, the International Monetary Fund released br a report lowering its world economic forecast due to br major slowdowns in the world's three largest economies.br The United States, China and Europe all br face downturns amid Russia's war in Ukraine, br surging inflation and tighter monetary policy. .br The IMF warns that the world economy br is expected to grow just 3.2 in 2022, br down 6.1 from last year.br CNN reports that, the outlook for 2023, is even worse.br According to the IMF, 2023 is only expected br to see 2.9 growth, just slightly above the br level considered to be a global recession.br According to the IMF, 2023 is only expected br to see 2.9 growth, just slightly above the br level considered to be a global recession.br The IMF already reduced its br global forecast in April, predicting br 3.6 growth in both 2022 and 2023.br Pierre-Olivier Gourinchas, the IMF's director br of research, wrote in a blog post that , "the outlook has darkened significantly.".br Pierre-Olivier Gourinchas, the IMF's director br of research, wrote in a blog post that , "the outlook has darkened significantly.".br The world may soon be teetering br on the edge of a global recession, br only two years after the last one, Pierre-Olivier Gourinchas, br IMF director of research, via CNN.br As a result, businesses have br already begun to brace br for an economic downturn.