The International Monetary Fund on Tuesday cut its global growth projections for 2022 and 2023, saying the economic hit from Russia’s unprovoked invasion of Ukraine will “propagate far and wide.” The Washington-based institution is now projecting a 3.6% GDP rate for the global economy this year and for 2023. This represents a 0.8 and 0.2 percentage point drop, respectively, from its forecasts published back in January. “Global economic prospects have been severely set back, largely because of Russia’s invasion of Ukraine,” Pierre-Olivier Gourinchas, economic counsellor at the IMF, said in a blogpost Tuesday, marking ... (full story)