Treasurer says Australia not immune as IMF warns of global economic slowdown

The International Monetary Fund has warned the world's economy will face years of weak and uneven growth, with high inflation to persist. It also projects Australia's economy will slow, and the outlook is in line with domestic projections from Treasury and the Reserve Bank. Treasurer Jim Chalmers is travelling to the US to meet with the IMF [[12-14 March]], and says he remains confident a recession in Australia can be avoided.

U.S. Treasury Secretary Janet Yellen, right, talks with Australia's Treasurer Jim Chalmers during the Launching of the Pandemic Fund at the 2nd G20 Joint Health and Finance Ministers Meeting ahead of the G20 leaders summit, in Nusa Dua, Bali, Indonesia, Sunday, Nov. 13, 2022 Source: AP / Dita Alangkara/AP