The International Monetary Fund has once again reduced its global growth forecasts on Tuesday.

It has also warned that downside risks are emerging from high inflation and the Ukraine war.

If left unchecked, they can push the world economy to the brink of recession. 

The IMF said in an update to its World Economic Outlook that global real GDP growth will slow to 3.2 percent in 2022, from 3.6 percent in April's forecast.

It said that the world's GDP actually decreased in the second quarter due to the slowdown in China and Russia. 

IMF Growth Projections: 2022

USA?????????: 2.3%

Germany?????????: 1.2%

France?????????: 2.3%

Italy????????? : 3.0%

Spain????????: 4.0%

Japan????????: 1.7%

UK????????: 3.2%

Canada????????? %

China????????: 3.3%

India????????: 7.4%

Russia??????????: -6.0%

Brazil?????????: 1.7%

Mexico????????: 2.4%

KSA????????: 7.6%

Nigeria?????????: 3.4%

RSA???????: 2.3%https: https://t.co/ldMsaieJUupic.twitter.com/Ip06Wct3s4

— IMF (@IMFNews) July 26, 2022

Citing the impact of tighter monetary policy, the IMF has cut its 2023 growth forecast to 2.9 percent from April's estimate of 3.6 percent. 

The global growth rate reached 6.1 percent in 2021, with global production reducing by 3.1 percent due to the COVID-19 pandemic in the year 2020.