IMF Warns of Global Recession

In its latest World Economic Outlook, the IMF projected that global growth will slow to 3.1 percent this year, down from previous estimates.

The report outlines an 'adverse scenario' where persistent conflict and energy infrastructure damage could see growth plunge as low as 2 percent in 2026.

The United Kingdom is expected to suffer the sharpest shock among G7 nations, with its growth forecast cut to just 0.8 percent.

Economists warned that inflation will remain difficult to control if crude oil prices average above $110 per barrel over the next two years.