Limping' Global Economy looms - IMF says

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Leading economists gathered in Marrakech, Morocco, on Tuesday for the International Monetary Fund's annual conference. Their message was clear: The world economy is beginning to slump as fissures between East and West widen.

"The global economy is limping, not sprinting," IMF Chief Economist Pierre-Olivier Gourinchas told reporters on Tuesday.

The IMF predicts that global economic growth will slow in 2024 to 2.9% from this year's 3%. It says that downturn is in part due to the emergence of geopolitical blocs, stifling free trade across the globe.

Moscow's invasion of Ukraine in 2022 played a large part, the IMF says, noting that over the past 20 months, the West has issued unprecedented sanctions on the Kremlin and has shifted away from relying on China.