The IMF thinks we may actually skirt a recession. It is also surprisingly upbeat about Russia's economy.

• The IMF expects the world economy to grow 2.9% in 2023 — which is better than its October forecast of 2.7%.
• Growth is expected to be supported by strong labor markets and household consumption, and China's reopening.
• The IMF also expects Russia's economy to grow 0.3% — a reversal from its contraction of 2.2% in 2022.

The world economy may actually not be as bad as it seems, the International Monetary Fund said Monday, as it upped its global growth forecast to 2.9% in 2023.