IMF Cut Global Growth to 3.1%, Flags Downturn Risk If War Lasts

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The International Monetary Fund downgraded its growth projection for the year after the war in the Middle East triggered a major oil shock and included the possibility of a downturn if the conflict drags on and energy infrastructure is severally damaged.Global gross domestic product is now expected to rise 3.1% this year, compared with 3.3% predicted in January, the Washington-based fund said Tuesday in its World Economic Outlook. That’s assuming a relatively short-lived conflict and moderate gain in energy prices this year.