It slashed its forecasts for economic growth both in the US and predicted that global economic growth would slow to 2.8% this year.
Today the Fund has resurfaced with a markedly different message. It upgraded growth in both the US and elsewhere. Global economic growth this year will actually be 3.2%, it added. So, has the Fund conceded victory to Donald Trump? Is it no longer fretting about the economic impact of tariffs?
Money latest: Shock over retirement age
Either way, the World Economic Outlook (WEO), the IMF's six-monthly analysis of economic trends, is well worth a look. This document is perhaps the ultimate synthesis of what economists are feeling about the state of the world, so there's plenty of insights in there, both about the US, about far-reaching trends like artificial intelligence, about smaller economies like the UK and plenty else besides. Here, then, are four things you need to know from today's WEO.
The tariff impact is much smaller than expected… so far
The key bit there is the final two words. The Fund upgraded US and global growth, saying: "The global economy has shown resilience to the trade policy shocks", but added: "The unexpected resilience in activity and muted inflation response reflect - in addition to the fact that the tariff shock has turned out to be smaller than originally announced - a range of factors that provide temporary relief, rather than underlying strength in economic fundamentals."
In short, the Fund still thinks those things it was worried about six months ago - higher inflation, lower trade flows and weaker income growth - will still kick in. It just now thinks it might take longer than expected.
The UK faces the highest inflation in the industrialised world
One of the standard exercises each time one of these reports come out is for the Treasury to pick out a flattering statistic they can then go back home and talk about for the following months. This time around the thing they will most likely focus on is that Britain is forecast to have one of the strongest economic growth rates in the G7 (second only to the US) this year, and the third strongest next year.
But there are a couple of less flattering prisms through which one can look at the UK economy. First, if you look not at gross domestic product but (as you really ought to) at GDP per head (which adjusts for the growing population), in fact UK growth next year is poised to be the weakest in the G7 (at just 0.5 per cent).
Second, and perhaps more worryingly, UK inflation remains stubbornly high in comparison to most other economies, the highest in the G7 both this year and next. Why is Britain such an outlier? This is a question both Chancellor Rachel Reeves and Bank of England governor Andrew Bailey will have to explain while in Washington this week for the Fund's annual meeting.
What happens if the Artificial Intelligence bubble bursts?
Few, even inside the world of AI, doubt that the extraordinary ramp up in tech share prices in recent months has some of the traits of a financial bubble. But what happens if that bubble goes pop? The Fund has the following, somewhat scary, passage:
"Excessively optimistic growth expectations about AI could be revised in light of incoming data from early adopters and could trigger a market correction. Elevated valuations in tech and AI-linked sectors have been fuelled by expectations of transformative productivity gains. If these gains fail to materialize, the resulting earnings disappointment could lead to a reassessment of the sustainability of AI-driven valuations and a drop in tech stock prices, with systemic implications.
"A potential bust of the AI boom could rival the dot-com crash of 2000 in severity, especially considering the dominance of a few tech firms in market indices and involvement of less-regulated private credit loans funding much of the industry's expansion. Such a correction could erode household wealth and dampen consumption."
Pay attention to what's happening in less developed countries
For many years, one of the main focuses at each IMF meeting was about the state of finances in many of the world's poorest nations.
Rich countries lined up in Washington with generous policies to provide donations and trim developing world debt. But since the financial crisis, rich world attention has turned inwards - for understandable reasons. One of the upshots of this is that the amount of aid going to poor countries has fallen, year by year. At the same time, the amount these countries are having to pay in their annual debt interest has been creeping up (as have global interest rates). The upshot is something rather disturbing. For the first time in a generation, poor countries' debt interest payments are now higher than their aid receipts.
I'm not sure what this spells. But what we do know is that when poor countries in the Middle East and Sub-Saharan Africa face financial problems, they often face instability. And when they face instability, that often has knock on consequences for everyone else. All of which is to say, this is something to watch, with concern.
The IMF's report is strictly speaking the starting gun for a week of meetings in Washington. So there'll be more to come in the next few days, as finance ministers from around the world meet to discuss the state of the global economy.
Akram al Basyouni, 45, from northern Gaza, says he was detained on 10 December 2023 at a shelter school in Jabalia and spent nearly two years in custody, including at the Sde Teiman military base.
"Many of our fellow prisoners were beaten to the point of death," he told Sky News. "When we cried out to the guards for help, they would answer coldly, 'Let him die'. Five minutes later they would take the body away, wrap it in a bag, and shut the door."
Al Basyouni said detainees were routinely tortured, beaten with batons and fists, attacked by dogs and gassed during what guards called a "reception ceremony".
"They beat us so savagely our ribs were shattered. They poured boiling water over the faces and backs of young men until their skin peeled away. We sat on cold metal floors for days, punished even for asking for help."
Sky News has contacted the Israel Prison Service (IPS) and the Israel Defense Forces for comment but has not yet received a response.
Al Basyouni claimed prisoners were forced to remain on their knees for long hours, deprived of clothing and blankets, and subjected to religious and psychological abuse.
"They cursed the Prophet, tore up the Koran in front of us, and insulted our mothers and sisters in the foulest language," he said. "They told us our families were dead. 'There is no Gaza,' they said. 'We killed your children.'"
Palestinians freed from Israeli prisons in past exchanges have reported frequent beatings, insufficient food and deprivation of medical care.
A 2024 UN report said that since 7 October 2023, thousands of Palestinians have been held arbitrarily and incommunicado by Israel, often shackled, subject to torture and deprived of food, water, sleep and medical care.
Israel has maintained that it follows international and domestic legal standards for the treatment of prisoners and that any prison personnel violations are investigated.
Its National Security Minister Itamar Ben-Gvir, who oversees the country's prisons, has on multiple occasions boasted about making conditions for Palestinians as harsh as possible while remaining within the law.
Al Basyouni claimed many detainees, including doctors, died from beatings or medical neglect.
"I heard about Dr Adnan al-Bursh, may God have mercy on him," he said. "He was struck in the chest by a prison guard, over his heart. He lost consciousness immediately and died five minutes later."
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Sky News' own investigation found that Dr al-Bursh, one of Gaza's most respected surgeons, died after being tortured in Israeli custody, sustaining broken ribs and severe injuries while being held at Ofer Prison.
Al Basyouni said he also met Dr Hossam Abu Safiya at Ofer and heard that Dr Akram Abu Ouda had been "subjected to severe and repeated torture."
"Even the doctors were beaten and denied treatment," he said. "Many reached the brink of death."
In response to our investigation into Dr al-Bursh's death, a spokesman for the Israel Prison Service said at the time: "We are not aware of the claims you described and as far as we know, no such events have occurred under IPS responsibility."
He died on Tuesday, leaving behind a "legacy of extraordinarily moving music" following a "prolonged and courageous battle with cancer," his family said in a statement.
The prominent musician, born Michael D'Angelo Archer, was 51 years old.
A family statement said: "We are saddened that he can only leave dear memories with his family, but we are eternally grateful for the legacy of extraordinarily moving music he leaves behind.
"We ask that you respect our privacy during this difficult time, but invite you all join us in mourning his passing while also celebrating the gift of song that he has left for the world."
The singer rose to prominence in the 1990s with his first album, Brown Sugar.
The track "Lady" from that album reached No. 10 in March 1996 and remained on Billboard's Hot 100 chart for 20 weeks.
The Great Smog of 1952 was an extreme example.
This week, while conditions are mostly settled, with high pressure in charge, there is a lack of blue sky and sun.
The UK can often experience anticyclonic gloom in late autumn, winter or early spring, sometimes lasting for many days and even weeks.
What happens is that high pressure allows air to sink, causing warming and compression, with the sinking motion trapping moisture and cloud near the surface.
A temperature inversion can occur, when colder air exists near the surface of the earth with a layer of warmer air above, acting as an atmospheric lid.
When the sun isn't as strong, it limits the breakup of cloud, along with a lack of wind from the area of high pressure.
Overnight, the cloud can often thicken, too, as moisture condenses, with drizzly outbreaks possible.
Anticyclonic gloom can often lead to higher levels of pollution, as that becomes trapped as well.
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The first half of November 2024 was the last notable instance of anticyclonic gloom, with virtually no sunshine recorded in many locations across the UK.
For now, it looks like things will change from Sunday, with wet and windy weather moving in from the west.
Thomas Tuchel's side have dominated their group in the qualifying games and the win in Riga means they are through to next summer's main tournament with two matches to spare.
England is the first European team to qualify for the 2026 World Cup after winning their six Group K matches so far, without conceding a single goal.
The Three Lions were already up 3-0 at half-time in the Daugava Stadium thanks to Anthony Gordon scoring once and Harry Kane twice, including a penalty.
The fourth goal came early in the second half when Djed Spence's shot bounced off the leg of Latvia's Maksims Tonisev. And in the 86th minute, substitute Eberechi Eze scored the final goal for the Three Lions.
There are two games left to play for Tuchel's team, against Serbia on 13 November at Wembley Stadium and Albania on 16 November in the country's capital, Tirana.
England already beat Serbia 5-0 and Albania 2-0 in earlier qualifiers.
Next year's men's World Cup will take place from June to July.
The 23rd edition of the tournament will take place across 16 cities in the United States, Canada and Mexico.
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The draw for the group stage fixtures will take place in Washington on 5 December, with US President Donald Trump set to join FIFA president Gianni Infantino to decide the match-ups.
The 2026 World Cup final will be the first ever to have a half-time show, in a move inspired by the NFL's Super Bowl.