Optimistic forecasts could be upset by high borrowing costs, war in the Middle East – or a Trump election win

• IMF forecasts faster growth for UK economy

All things considered, the International Monetary Fund should be feeling relatively upbeat as it hosts its annual meeting in Washington DC this week.

To be sure, its flagship World Economic Outlook (WEO) report shows the global economy stuck in a relatively low-growth pattern. But given how things stood two years ago, when inflation was at its highest for four decades and Russian troops had just invaded Ukraine, it could have been a lot worse.