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FILE - People shop at Taikoo Li Sanlitun shopping center in Beijing, China, on July 2, 2024. On Tuesday, July 16, 2024, the International Monetary Fund issues an update to its World Economic Outlook, a forecast for the global economy and major nations. (AP Photo/Vincent Thian, File)

FILE - People shop at Taikoo Li Sanlitun shopping center in Beijing, China, on July 2, 2024. On Tuesday, July 16, 2024, the International Monetary Fund issues an update to its World Economic Outlook, a forecast for the global economy and major nations. (AP Photo/Vincent Thian, File)

FILE - The coastal road project in Mumbai, India, is shown on Feb. 1, 2024. On Tuesday, July 16, 2024, the International Monetary Fund issues an update to its World Economic Outlook, a forecast for the global economy and major nations. (AP Photo/Rajanish Kakade, File)

FILE - The coastal road project in Mumbai, India, is shown on Feb. 1, 2024. On Tuesday, July 16, 2024, the International Monetary Fund issues an update to its World Economic Outlook, a forecast for the global economy and major nations. (AP Photo/Rajanish Kakade, File)

FILE - Pierre-Olivier Gourinchas, Chief Economist of the International Monetary Fund (IMF), speaks at a news conference on April 16, 2024, in Washington. On Tuesday, July 16, 2024, the IMF issues an update to its World Economic Outlook, a forecast for the global economy and major nations. (AP Photo/Jacquelyn Martin, File)

FILE - Pierre-Olivier Gourinchas, Chief Economist of the International Monetary Fund (IMF), speaks at a news conference on April 16, 2024, in Washington. On Tuesday, July 16, 2024, the IMF issues an update to its World Economic Outlook, a forecast for the global economy and major nations. (AP Photo/Jacquelyn Martin, File)