New Delhi, April 24 -- Two takeaways stand out from the latest iteration of the International Monetary Fund's (IMF) World Economic Outlook (WEO), issued for April 2025. One is reassuring and the other, disturbing. The biggest consolation is that, contrary to widespread fears, the global economy is nowhere near a recession.

According to the Fund, "Despite the slowdown, global growth remains well above recession levels." World output is projected to grow by 2.8% in 2025. Sure, this is half a percentage point less than its January 2025 rate projection and it expects this weakness to persist into 2026, when growth is expected to be 3%, three-tenths of a percentage point less than its January forecast. However, we're not headed for recession ...