Sri Lanka, April 23 -- The International Monetary Fund (IMF) has sounded a stark alarm, warning that the global economy is standing at a "critical juncture" as it enters a "new era" marked by escalating trade conflicts and mounting policy uncertainty.

In its latest World Economic Outlook, the IMF paints a grim portrait of a world economy beset by self-inflicted wounds, with growth forecasts slashed and the risk of a more severe downturn looming large.

IMF Chief Economist Pierre-Olivier Gourinchas unveiled the report with a grave assessment of the shifting global landscape.

"The landscape has changed since our last World Economic Outlook update in January. We're entering a new era as the global economic system that has operated for the ...