WASHINGTON, (Reuters) – The International Monetary Fund will cut its global growth forecast for 2022 in the coming months, Gerry Rice, spokesperson at IMF, said Thursday. This follows moves made by the World Bank, OECD and OECD, which also cut their forecasts.

This would mark the third consecutive downgrade for this year. The IMF already had lowered its global economic growth forecast by almost a whole percentage point in April to 3.6% for 2022 and 2023.

Rice said at the IMF’s regular briefing that growth is still expected across the world, but it would be slower. However, some countries might face recession.