WASHINGTON—Global economic growth is cooling while facing risks from the volatile banking sector, high inflation and climbing interest rates, the International Monetary Fund said on 11 April.

Total economic output is projected to increase 2.8% this year, a slowdown from 3.4% last year, as nations continue recovering from slumps caused by the pandemic and the war in Ukraine, the IMF said in its latest World Economic Outlook report. Its new 2023 forecast was little changed — just 0.1 percentage point lower — from its January projection.