IMF cuts global growth forecast to 3% for 2026

The International Monetary Fund (IMF) has lowered its global economic growth forecast for 2026 to 3%, citing high energy prices and persistent inflation risks. The downgrade affects multiple countries, including the Philippines, Egypt, and Cambodia, whose growth outlooks were also cut. However, the IMF upgraded Egypt's 2026 growth forecast slightly to 4.6%, and dropped a recession warning after a June ceasefire. The Asian Development Bank (ADB) similarly reduced its growth forecast for the Philippines.