WASHINGTON -- The International Monetary Fund (IMF) on Tuesday projected the global economy to grow by 3.2 percent this year and 2.7 percent in 2023, with a downward 0.2-percentage-point revision for 2023 from the July forecast, according to the latest World Economic Outlook report.
The global economy is experiencing "a number of turbulent challenges," as inflation higher than seen in several decades, tightening financial conditions in most regions, Russia-Ukraine conflict, and the lingering COVID-19 pandemic all weigh heavily on the outlook, the report said. (IMF-Global Economy-2023)
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UNITED NATIONS -- Fifty-four developing economies accounting for more than half of the world's poorest people need urgent debt relief as a result of "cascading global crises," the UN Development Program said Tuesday.
It warned of the risks of inaction in a new paper, noting that if these countries do not get access to effective debt restructuring, poverty will rise and desperately needed investments in climate adaptation and mitigation will not happen. (UN-Debt Relief)
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CARACAS -- The weekend landslide in Venezuela's north central state of Aragua has killed 36 by Monday afternoon, with 56 persons missing, Minister for Internal Relations, Justice, and Peace Remigio Ceballos said.
The Venezuelan government has distributed 300 tons of food and water in the affected area, he said, adding that more than 3,000 members of police and fire departments, the Civil Protection agency and the Bolivarian National Armed Forces have been deployed to help with the recovery efforts. (Venezuela-landslide)
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SAN SALVADOR -- Tropical storm Julia has claimed at least eight lives in El Salvador and driven more than 1,000 people from their homes to shelters, authorities said on Monday.
Two people were killed when a wall collapsed, and an elderly man died after a tree fell on his home, Deputy Interior Minister Raul Juarez said at a press conference. (El Salvador-Tropical Storm Julia) ■
