The US$650 billion SDR allocation was the IMF's largest ever.

LinkedIn has grown revenue each quarter during the last year, but it joins other major technology companies including its parent in laying off workers amid a weakening global economic outlook.

A Chinese invasion of Taiwan could potentially wipe out up to RM4.5 trillion per year from the global economy per year in the first few years.

The IMF has warned that a major new flare-up of banking system turmoil could slam global growth back to 1%, throwing many economies into recession and putting major stresses on emerging market economies.

The IMF says that banking system contagion risks are contained by strong policy actions after the failures of two US regional banks and the forced merger of Credit Suisse.

It is unclear how a strong Chinese recovery could feed into prices elsewhere, as the inflationary impact of its higher energy demand could be offset by the extra supply of goods it brings to the world's economy.

The latest figures come as central bankers gear up for another round of interest rate increases to combat high inflation.

The Thai prime minister urges participants at the Apec summit to seek sustainable growth and development after economic and social challenges from Covid, climate change and geopolitical rivalries.

IMF blames the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions and food insecurity.

The IMF says its latest World Economic Outlook forecasts show that a third of the world economy will likely contract by next year.

The IMF has trimmed its 2021 global growth forecast to 5.9% from the 6.0% forecast it made in July, leaving a 2022 global growth forecast unchanged at 4.9%.

Southeast Asia was hit particularly hard with factory activity shrinking in Vietnam, Indonesia and Malaysia because of virus outbreaks and output suspensions, surveys show.