IMF cuts 2013 global growth forecast to 3.1%

The International Monetary Fund on Tuesday cut its global economic growth forecast for this year, citing new downside risks in key emerging-market countries and a deeper recession in the eurozone.

The IMF projected the world's economy will grow 3.1 percent in 2013, down from its April estimate of 3.3 percent. China and other emerging economic powers now face new risks, it warned, "including the possibility of a longer growth slowdown."