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June 16, 2022
The International Monetary Fund (IMF) sees further slowdown hitting global economic growth in 2022
Photo: International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, receives an Honorary Degree, Doctor Honoris Causa (DHC), from the University of National and World Economy. Sofia, Bulgaria. May 17, 2022. IMF Photo/Hristo Rusev.
Photo: International Monetary Fund Analytical Corner discussion on the topic of ‘A Headwind To Recovery’ as part of the 2022 Spring Meetings. Washington, DC, United States. April 7, 2022. IMF Photo/Kim Haughton.
Washington, DC, June 15, 2022 — The International Monetary Fund (IMF) sees further slowdown hitting global economic growth in 2022, IMF spokesperson Gerry Rice said in Washington, DC, following World Bank and OECD moves to cut their forecasts.
The IMF will publish the next revision of its World Economic Outlook report in July, and if it materializes, that would be its third downgrade this year. In April, the IMF had already slashed its forecast for global economic growth by nearly a whole percentage point to 3.6% in 2022 and 2023.
Fund spokesman Gerry Rice said several factors, including a slowdown in China, persistently high fuel and food prices, and many Central Banks hiking rates, were acting together to slow growth.
“We have inflation continuing to rise, particularly in several advanced economies leading to tightening monetary policy. So, you know, we’re seeing this confluence of crises. The Managing Director discussed the combination of all these things going in the same direction of downside risks. And so, again, I think you can reasonably expect that there will be a downward revision of the growth forecast for 2022 compared to what we were forecasting only a month-and-a-half ago,” Rice told reporters.
Source: IMF
|GlobalGiants.Com|
— The editor holds certification in “Financial Market Analysis” from International Monetary Fund, Washington, DC.
Edited & Posted by the Editor | 3:08 AM | Link to this Post
