The report details that in Latin America and the Caribbean in 2022 will grow 3% and 2% in 2023, but in the case of the United States the projection for this year is 2.3% and for next year 1%, as for the European area for 2022 is 2.6% and 1.2% for 2023.

According to the IMF, the revision in Latin America and the Caribbean is also upward, by 0.5 percentage points in 2022, thanks to a more vigorous recovery in the main economies (Brazil, Mexico, Colombia, Chile).

For the United States, some indicators, such as the Federal Reserve Bank of Atlanta's GDPNow forecasting model, suggest that a technical recession (defined as two consecutive quarters of negative growth) may have already begun.

The baseline projections described in the analysis are based on several assumptions, including that there are no further unexpected reductions in natural gas flows from Russia to the rest of Europe, that long-term inflation expectations remain stable, and that disorderly adjustments in global financial markets as a result of the tightening of disinflationary monetary policy do not worsen.

In addition, the report, forecasts that this year the real Gross Domestic Product (GDP) of Europe's emerging and developing economies will contract by 1.5 percentage points less than forecast in the april 2022 WEO report, but grow by 0.4 percentage points less in 2023, as a result of stronger-than-expected Russian export growth this year and recently announced new sanctions on Russia in 2023.