The IMF-World Bank meeting in Washington this weekend revealed again that the world economy is slowing down and the prospect of an outright recession is getting much higher. The IMF economists cut their outlook for global growth to the lowest since the global financial crisis of 2009 amid a bleaker outlook in most major advanced economies and signs that higher tariffs are weighing on trade – “a growth slowdown and precarious recovery”, the IMF called it. The IMF estimates that the world economy will grow 3.3% this year, down from the 3.5% it had forecast for 2019 in January. It’s the third time the IMF has downgraded its outlook in six months.