IMF Cuts Global GDP Forecasts

FILE PHOTO: International Monetary Fund logo is seen outside the headquarters building  

CNBC: IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990 

* The IMF said that five years from now, global growth is expected to be around 3% — the lowest medium-term forecast in a World Economic Outlook for over 30 years. 

* In the short term, the fund expects global growth of 2.8% this year and 3% in 2024, slightly below the fund’s estimates published in January. 

* The IMF said that its baseline forecast “assumes that the recent financial sector stresses are contained.” 

The International Monetary Fund on Tuesday released its weakest global growth expectations for the medium term in more than 30 years. 

The D.C.-based institution said that five years from now, global growth is expected to be around 3% — the lowest medium-term forecast in an IMF World Economic Outlook since 1990.  

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WNU Editor: All eyes are on the weakness of the global banking system is .... Banks in ‘more precarious situation’ creating risks for global growth, IMF chief economist warns (CNBC). 

IMF Cuts Global GDP Forecasts  

IMF warns deeper financial turmoil would slam global growth -- Reuters  

IMF: Banking crisis boosts risks and dims outlook for world economy -- CNN  

IMF Lowers 2023 Global GDP Growth Forecast to 2.8% -- Bloomberg

'Turbulence is building': IMF warns of 'hard landing' for global economy -- Politico

IMF Says World Needs To Prepare For The "Unthinkable"

 

CNBC: ‘Think of the unthinkable’: IMF chief warns world is a very different place after crises like Covid 

* The Managing Director of the IMF warned we need to “think of the unthinkable,” as we live in “a more shock-prone world” impacted by the Covid-19 pandemic, Russia’s invasion of Ukraine and the recent earthquakes affecting Turkey and Syria.

* “What we are very concerned [about] is the unexpected,” Georgieva said. 

* The global economy will grow 2.9% this year, according to forecasts by the financial organization. 

The Managing Director of the IMF warned that we need to “think of the unthinkable,” as we live in “a more shock-prone world” impacted by the Covid-19 pandemic, Russia’s invasion of Ukraine and the recent earthquake across Syria and Turkey. 

“We all have to change our mindset to be much more agile and much more oriented towards building resilience at all levels, so we can handle the shocks better,” Kristalina Georgieva said Tuesday, during a World Government Summit panel hosted by CNBC’s Hadley Gamble. 

 “What we are very concerned [about] is the unexpected,” Georgieva said.  

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Update #1: Need to think of the unthinkable, as we live in more shock-prone world: IMF warns (First Post) 

Update #2: IMF Says World Needs To Prepare For The "Unthinkable" After COVID, War In Ukraine (Zero Hedge/Epoch Times) 

WNU Editor: On a more positive note. The IMF is now predicting global GNP to grow by 2.9% in 2023 .... unless of course the unthinkable happens.

Pakistan - IMF Bailout Deal Negotiations Have Collapsed

 

BBC: Pakistan IMF: Crucial bailout deal eludes negotiators 

Eleventh-hour negotiations between Pakistan and the International Monetary Fund (IMF) have failed to unlock $1.1bn in crucial funds aimed at preventing the country from going bankrupt. 

A deepening economic crisis has all but emptied Pakistan's foreign exchange reserves, leaving it barely enough dollars to cover a month of imports and it is struggling to service sky-high levels of foreign debt. 

The IMF team, which leaves Islamabad on Friday, said "considerable progress" had been made after 10 days of talks. 

"Virtual discussions will continue in the coming days," the head of the IMF mission Nathan Porter said in a statement.  

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Update #1: IMF delays $6 billion bailout for cash-strapped Pakistan (Fox News/AP)  

Update #2: No deal as IMF leaves crisis-hit Pakistan (RFI)  

WNU editor: Pakistan going bankrupt is next. Like what has happened with Sri Lanka's bankruptcy, Pakistan is now going to experience a lot of hurt.

The IMF Is Surprisingly Upbeat About Russia's Economy

 

RT: IMF upgrades Russian economy forecast 

The fund expects 0.3% growth in 2023, having previously predicted a contraction The International Monetary Fund has revised upwards its estimate of Russian economic development, projecting GDP to grow by 0.3% this year, and 2.1% in 2024. 

According to the fund’s World Economic Outlook update published on Monday, Russia’s GDP fell by 2.2% last year. In its October forecast, the IMF reported that the decline was expected to be 3.4%. For this year, the fund previously predicted a drop of 2.3%, and for 2024, a 2.1% decline.

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WNU Editor: The IMF expects Russia's economy to grow 0.3% this year, a reversal from its contraction of 2.2.% in 2022. 

I think the IMF's numbers for 2022 are wrong. From what I have seen and heard high energy prices and war spending boosted the Russian economy into positive growth. And as for 2023. I expect more growth than the 0.3% that the IMF is forecasting. 

Of course this is all contingent on how the war in Ukraine shapes up in the coming months. But there is one thing that is clear. Sanctions did not "crater" Russia's currency as President Biden predicted last March, and there has been no Russian economic collapse.  

Update: This is embarrassing for the UK government .... No 10 insists UK economy is strong despite IMF warning it will fare worse than any other in developed world - including Russia (SKY News). And they are not alone. Germany is in recession. Sweden is in recession. And the sources that I trust see the EU economy as a whole looking dismal for the rest of the year.

The IMF Is Surprisingly Upbeat About Russia's Economy  

The IMF thinks we may actually skirt a recession. It is also surprisingly upbeat about Russia's economy. -- Business Insider  

IMF improves economic forecast for the eurozone and Russia amid energy crisis and raging war -- Euronews  

Are Western sanctions working on Russia’s growing economy? -- The Week

IMF Considering An Aid package Of $16 Billion For Ukraine

Bloomberg: IMF Weighs Ukraine Aid Package Worth Up to $16 Billion 

The International Monetary Fund is exploring a multiyear aid package for Ukraine worth as much as $16 billion to help cover the country’s needs and provide a catalyst for more international funding while Kyiv tries to repel Russian forces, according to people familiar with the matter. 

Whether the program is implemented hinges on a range of conditions, including endorsement from Group of Seven nations, and Ukraine’s donors and creditors ensuring the sustainability of the country’s debt, said the people. 

The plan would also require changes to IMF lending rules so the fund could lend to the war-torn country, and the government in Kyiv would need to commit to a series of policies, on top of successfully completing a four-month non-cash IMF program approved last year, according to the people, who asked not to be identified because they’re not authorized to discuss the issues publicly.  

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WNU Editor: I have already lost count on how much Ukraine will owe international creditors when this war is over.

IMF Gives A Gloomy Forecast For The Global Economy In 2023

 

BBC: Third of world in recession this year, IMF head warns 

A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. 

Kristalina Georgieva said 2023 will be "tougher" than last year as the US, EU and China see their economies slow. 

It comes as the war in Ukraine, rising prices, higher interest rates and the spread of Covid in China weigh on the global economy. 

In October the IMF cut its global economic growth outlook for 2023. 

"We expect one third of the world economy to be in recession," Ms Georgieva said on the CBS news programme Face the Nation. 

"Even countries that are not in recession, it would feel like recession for hundreds of millions of people," she added.  

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IMF Gives A Gloomy Forecast For The Global Economy In 2023  

Full interview: IMF managing director Kristalina Georgieva on "Face the Nation with Margaret Brennan" -- CBS News  

Third of world economy to hit recession in 2023, IMF head warns -- The Guardian  

Global economy faces tougher year in 2023, IMF's Georgieva warns -- Reuters  

International Monetary Fund's Kristalina Georgieva warns one third of world’s economy will be in recession in 2023 -- SKY News

Another Gloomy Economic Outlook From The IMF

The global lender last month cut its global growth forecast for 2023 to 2.7 per cent from a previous forecast of 2.9 per cent. PHOTO: REUTERS

Reuters: IMF says global economic outlook getting 'gloomier', risks abound  

WASHINGTON – The global economic outlook is even gloomier than projected in October, the International Monetary Fund (IMF) said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. 

It blamed 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 caused by Russia’s invasion of Ukraine. 

The global lender in October cut its global growth forecast for 2023 to 2.7 per cent from a previous forecast of 2.9 per cent.

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WNU Editor: Europe is heading into a recession (the UK is already in recession), and the slowdown in China are the reasons why the IMF has lowered its economic forecasts again.

Economic Leaders At IMF's Annual Meeting Told To ‘Buckle Up’

 

Bloomberg: Guardians of World Economy Told to ‘Buckle Up’ as Outlook Dims 

(Bloomberg) -- After a week hosting the International Monetary Fund’s annual gathering of economic leaders, Managing Director Kristalina Georgieva summed it up for the 190 member countries: “Buckle up, and keep going.” 

As the talks ended in Washington on Saturday, finance ministers and central bankers seeking to sustain the world economy’s shaky recovery from the pandemic worried Russia’s invasion of Ukraine continues to destabilize Europe and stymies efforts to boost growth. 

But the stalwarts of the post-World War II global order also took a scalding. 

The UK’s whiplash on tax cuts -- which rattled markets and led to the ouster of Chancellor of the Exchequer Kwasi Kwarteng midway through the gathering -- and the US Federal Reserve’s dollar-boosting interest-rate hikes also dominated discussions. 

Members of the group also sparred over Saudi Arabia’s decision to lead an OPEC+ oil output cut, which was seen risky as Europe struggles with an energy crisis and the US tries to rein in the hottest inflation in four decades.  

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WNU Editor: I follow these type of meetings very closely. I could not help but feel that in this year's annual IMF/World Bank meeting there was a sense of not being in control. That economic/financial/and monetary trends and events cannot be influenced by Western policy leaders. Certainly the near collapse of the UK's bond markets last week and an acknowledgement on the US Fed's failing on reigning in inflation must have been a sobering moment to all of the participants at this gathering.

IMF Says ‘The Worst Is Yet To Come' For The Global Economy

 

CNBC: IMF cuts global growth forecast for next year, warns ‘the worst is yet to come’ 

* The International Monetary Fund predicts global growth will slow to 2.7% in 2023. 

* “The worst is yet to come, and for many people 2023 will feel like a recession,” the report reads. 

* Its GDP estimate for this year remained steady at 3.2%, which was down from the 6% seen in 2021. 

The International Monetary Fund predicts global growth will slow to 2.7% next year, 0.2 percentage point lower than its July forecast, and anticipates 2023 will feel like a recession for millions around the world. 

Aside from the global financial crisis and the peak of the Covid-19 pandemic, this is “the weakest growth profile since 2001,” the IMF said in its World Economic Outlook published Tuesday. 

Its GDP estimate for this year remained steady at 3.2%, which was down from the 6% seen in 2021. 

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IMF Says ‘The Worst Is Yet To Come' For The Global Economy 

'The worst is yet to come': IMF cuts global and euro area growth outlook -- Euronews  

‘The worst is yet to come’: IMF issues stark recession warning -- CNN  

'The worst is yet to come': IMF says 2023 will 'feel like a recession' -- SKY News 

IMF downgrades global economy outlook for 2023 -- AP

Heads Of The IMF And World Bank Warn (Again) Of A Rising Risk Of A Global Recession

 

Bloomberg: IMF, World Bank Warn of Increasing Risk of Global Recession 

(Bloomberg) -- The heads of the International Monetary Fund and World Bank warned of a rising risk of a global recession as advanced economies slow and faster inflation forces the Federal Reserve to keep raising interest rates, adding to the debt pressures on developing nations. 

In the US, the world’s largest economy, the labor market is still very strong but is losing momentum because the impact of higher borrowing costs is “starting to bite,” IMF Managing Director Kristalina Georgieva said Monday. 

The euro zone is slowing as natural gas prices soar, as is China due to Covid-19 disruptions and volatility in the housing sector. The IMF calculates that about one-third of the world economy will have at least two consecutive quarters of contraction this year and next, and that the lost output through 2026 will be $4 trillion.  

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WNU Editor: The IMF and the World Bank are not the only ones who are raising concerns abut a global recession .... ‘This is serious’: JPMorgan’s Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months (CNBC).

 Heads Of The IMF And World Bank Warn (Again) Of A Rising Risk Of A Global Recession  

World Bank's Malpass, IMF's Georgieva see rising risks of global -- Reuters  

IMF, World Bank leaders warn of growing risk of global recession -- The Hill  

IMF and World Bank warn of recession next year -- RTE  

$6.4 trillion hole: IMF, World Bank warn of global recession -- The AGE  

Global economy faces recession in 2023 say heads of IMF and World Bank -- TASS

IMF Now Warning That Raising Interest Rates Will Plunge The World Into A Recession

IMF's Managing Director, Kristalina Georgieva, said the organisation will lower its 2023 growth forecast, the fourth downward revision this year, when it releases its World Economic Outlook next week [File: Ahmed Yosri/Reuters]  

CNN: Hiking rates too quickly could trigger a ‘prolonged recession,’ IMF head warns 

The global economic outlook is darkening and the risks of recession are quickly rising: That’s the latest message from the International Monetary Fund, which said Thursday it will once again lower its growth projections. 

“We estimate that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year,” said IMF managing director Kristalina Georgieva during a speech at Georgetown University. 

“And, even when growth is positive, it will feel like a recession because of shrinking real incomes and rising prices.” The IMF anticipates that the world could lose $4 trillion in economic output between now and 2026.  

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IMF Now Warning That Raising Interest Rates Will Plunge The World Into A Recession 

IMF warns of higher recession risk and darker global outlook -- AP 

IMF chief warns world heading towards age of greater instability -- The Guardian 

IMF chief sees ‘darkening’ outlook for global economy -- Al Jazeera

IMF Says World Is 'Teetering' On The Edge Of A Global Recession

 

DW: IMF lowers growth forecast, warns of global 'recession' 

The International Monetary Fund (IMF) has cut its global growth forecast to 3.2% amid high inflation and the war in Ukraine, and warned the world could be "teetering on the edge of global recession." 

In an update to its global growth forecast Tuesday, the International Monetary Fund (IMF) warned of risks to the global economy, which if left unchecked, could push the world into a recession. 

High inflation and the risks posed by Russia's invasion of Ukraine are responsible for placing the global economy in peril, the IMF said, adding that "worst case" scenarios are possible. 

In a statement, IMF Chief Economist Pierre-Olivier Gourinchas said, "the world may soon be teetering on the edge of a global recession, only two years after the last one." 

Gourinchas added that the the current environment suggests that the "likelihood that the US economy can avoid a recession" is "quite narrow."  

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WNU Editor: We will know on Thursday if the U.S. is "officially" in a recession when the latest GDP numbers are released. 

 IMF Says World Is 'Teetering' On The Edge Of A Global Recession  

IMF cuts global growth outlook, warns high inflation threatens recession -- Reuters  

IMF Cuts Global Growth Outlook Due To US, China Slowdowns -- AFP  

IMF says global economy is edging towards recession -- The Guardian  

IMF slashes global GDP forecast as economic outlook grows ‘gloomy and more uncertain’ -- CNBC

IMF Cuts World GDP Outlook a Third Time as Inflation, Rates Jump -- Bloomberg  

'Edge of a global recession': IMF slashes world economic forecast again -- CNN  

IMF warns global economy teetering on brink of recession as it slashes growth outlook -- FOX News  

World is 'Teetering' on Edge of Global Recession, IMF Says -- Newsweek 

IMF slashes forecasts for global economy in "gloomy" outlook -- Axios

IMF Warns Europe Will Be Facing A Severe Recession In The Event Of A Russian Natural Gas Embargo

The Guardian: Russian gas shutoff would send some EU countries into recession, IMF warns 

Fund says GDP in Hungary, Slovakia and Czech Republic would fall by up to 6%, with Italy, Germany and Austria also hit hard 

A total shutdown of Russian gas supply would reduce GDP in the most vulnerable EU countries by as much as 6% and send them plunging into recession, the International Monetary Fund has warned. 

Amid speculation that the Russian president, Vladimir Putin, will keep the Nord Stream 1 pipeline closed when routine annual maintenance ends later this week, the IMF said Europe lacked a comprehensive plan to cope with shortages, further increases in energy prices and the impact on growth.  

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Update #1: A Russian gas cutoff would send Europe into recession unless nations around the world pooled their dwindling supplies together, IMF says (Insider)  

Update #2: IMF warns of severe recession across Europe in the event of a Russian gas embargo - FT (Reuters)  

WNU Editor: This IMF warning was issued before this news was announced .... Reuters Says Russia Will Be Restarting Gas Exports To Europe From Nord Stream 1 On Schedule.

IMF To 'Substantially' Cut Global Growth Outlook At It's Next Update

IMF to Cut Global Growth Outlook ‘Substantially’ at Next Review  

Bloomberg: IMF to Cut Global Growth Outlook ‘Substantially’ at Next Review 

The International Monetary Fund will cut its global economic growth outlook “substantially” in its next update, as finance chiefs grapple with a shrinking list of options to address the worsening risks. 

Surging food and energy prices, slowing capital flows to emerging markets, the ongoing pandemic and a slowdown in China make it “much more challenging” for policymakers, Ceyla Pazarbasioglu, the IMF’s director for strategy, policy and review, said at a Sunday panel in Bali, Indonesia. “It’s shock after shock after shock which are really hitting the global economy.” 

 Read more ....  

Update #1: IMF chief sees 'exceptionally uncertain' global outlook, deteriorating debt situation (Reuters)  

Update #2: IMF to 'substantially' cut global growth outlook — Bloomberg (RT)  

WNU Editor: The energy crisis in Europe and the possibility of a Russian natural gas cut-off is the main worry.

IMF Managing Director Says She ‘Cannot Rule Out’ Possible Global Recession

CNBC/Reuters: IMF chief Georgieva says she ‘cannot rule out’ possible global recession 

* The head of the International Monetary Fund on Wednesday said the outlook for the global economy had “darkened significantly” since April and she could not rule out a possible global recession next year given the elevated risks. 

* IMF Managing Director Kristalina Georgieva told Reuters the fund would downgrade in coming weeks its 2022 forecast for 3.6% global economic growth for the third time this year. 

* “It’s going to be a tough ’22, but maybe even a tougher 2023,” she said. “Recession risks increased in 2023.” 

The head of the International Monetary Fund on Wednesday said the outlook for the global economy had “darkened significantly” since April and she could not rule out a possible global recession next year given the elevated risks. 

IMF Managing Director Kristalina Georgieva told Reuters the fund would downgrade in coming weeks its 2022 forecast for 3.6% global economic growth for the third time this year, adding that IMF economists were still finalizing the new numbers.  

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Update: IMF sounds global economic alarm (RT).  

WNU Editor: Global inflation and harmful monetary and financial national policies (i.e. the EU and the US), coupled with Russian sanctions over the Russia - Ukraine war, is what will push the world into a global recession, impacting each country according to the tools that they have to minimize it.

IMF Says The Global Economy Is Facing Its Biggest Test Since The WWII

An exterior view of the building of the International Monetary Fund (IMF) in Washington, D.C., March 27, 2020. (AFP Photo)  

CNBC: IMF says global economy faces ‘confluence of calamities’ in biggest test since World War II 

* In a blog post ahead of this week’s World Economic Forum, IMF Managing Director Kristalina Georgieva said the global economy faces its “biggest test since the Second World War.” 

* In combining the Russia-Ukraine war, the Covid-19 pandemic and the spike in volatility in financial markets and persistent threat from climate change, the IMF said the world faces a “potential confluence of calamities.” 

The International Monetary Fund has warned against “geoeconomic fragmentation” as policymakers and business leaders gather at the World Economic Forum in Davos, Switzerland. 

In a blog post ahead of this week’s event, IMF Managing Director Kristalina Georgieva said the global economy faces its “biggest test since the Second World War,” with Russia’s invasion of Ukraine compounding the residual economic effects of Covid-19 crisis, dragging down growth and driving inflation to multi-decade highs.  

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IMF Says The Global Economy Is Facing Its Biggest Test Since The WWII 

IMF Chief Does Not Expect Recession but It Isn't 'Out of the Question' -- Reuters  

Global economy faces 'its biggest test' since WWII -- CNN  

IMF Warns Against Global Economic Fragmentation From Ukraine War -- Bloomberg  

Davos updates: IMF chief says global recession not expected -- AP  

Global economy in worst shape since WWII — IMF -- RT

IMF Acknowledges The Growing Strength Of China's Currrency

Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/Illustration/File Photo  

Reuters: IMF Lifts Weighting of Dollar, Chinese Yuan in SDR Basket 

BEIJING (Reuters) - The International Monetary Fund said on Saturday it has increased the weighting of the dollar and Chinese yuan in its review of the currencies that make up the valuation of its Special Drawing Rights (SDR), an international reserve asset. 

The review is the first since the yuan, also known as the renminbi, joined the basket of currencies in 2016 in what was a milestone in Beijing's efforts to internationalise its currency. 

The IMF raised the U.S. currency's weighting to 43.38% from 41.73% and the yuan to 12.28% from 10.92%. The euro's weighting declined to 29.31% from 30.93%, the yen's fell to 7.59% from 8.33% and the British pound fell to 7.44% from 8.09%. 

The IMF said in a statement its executive board had determined the weighting based on trade and financial market developments from 2017 to 2021.  

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Update #1: IMF lifts yuan’s weight in SDR basket in major win for China’s currency, economy (Global Times)  

Update #2: The IMF is lifting its weighting of the US dollar and Chinese yuan in its basket of special international reserves (Insider)  

WNU Editor: This IMF decision was based on data from 2017 - 2021. Something tells me that the Euro and British pound are going to be downgraded even more the next time the IMF does this assessment of currencies.

IMF Report Says Africa Facing Rising Food And Fuel Prices Due To The Russia - Ukraine War

The IMF official has warned that rising food priced due to the Russia-Ukraine conflict could lead to unrest [File: Yuri Gripas/Reuters] 

Al Jazeera: IMF: Rising food and fuel prices stoke risk of unrest in Africa 

Experts have been sounding the alarm that the Ukraine conflict could lead to food insecurity across parts of Africa. 

Surging food and energy prices stoked by the war in Ukraine may lead to “social unrest” in Africa, the International Monetary Fund has warned. 

Most countries south of the Sahara are already seeing a slowdown in economic growth from last year due to the COVID-19 pandemic, and the impact will be amplified by the rising cost of cereals and fuel, it said on Thursday.  

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 IMF Report Says Africa Facing Rising Food And Fuel Prices Due To The Russia - Ukraine War  

Africa Faces New Shock as War Raises Food and Fuel Costs -- IMF  

Rising prices stoke risk of unrest in Africa, says IMF -- AFP  

Ukraine war fallout could fuel unrest in Africa - IMF -- BBC  

War in Ukraine is compounding Africa's food crisis -- DW

Citing The Russia - Ukraine War, IMF Cuts Global Growth Forecast To 3.6%

 

CNBC: IMF cuts global growth forecasts on Russia-Ukraine war, says risks to economy have risen sharply 

* The Washington-based institution is now projecting a 3.6% GDP rate for the global economy this year and for 2023. 

* This represents a 0.8 and 0.2 percentage point drop, respectively, from its forecasts published in January. 

* The IMF said sanctions will have “a severe impact on the Russian economy,” which estimated the country’s GDP will fall by 8.5% this year, and by 2.3% in 2023. 

The International Monetary Fund on Tuesday cut its global growth projections for 2022 and 2023, saying the economic hit from Russia’s unprovoked invasion of Ukraine will “propagate far and wide.” 

The Washington-based institution is now projecting a 3.6% GDP rate for the global economy this year and for 2023. This represents a 0.8 and 0.2 percentage point drop, respectively, from its forecasts published in January.

“Global economic prospects have been severely set back, largely because of Russia’s invasion of Ukraine,” Pierre-Olivier Gourinchas, economic counsellor at the IMF, said in a blog post Tuesday, marking the release of the IMF’s latest World Economic Outlook report.  

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Citing The Russia - Ukraine War, IMF Cuts Global Growth Forecast To 3.6%  

Citing Russia’s war, IMF cuts global growth forecast to 3.6% -- AP  

IMF cuts global growth forecast to 3.6% as Ukraine war hits neighbours hard -- Financial Times 

IMF says Russia’s war in Ukraine will ‘severely set back’ global economy -- CNN  

IMF cuts global growth forecasts as Ukraine war, inflation cast shadow on world economy -- FOX News  

Global economy to 'slow significantly' following Russian invasion of Ukraine: IMF -- Yahoo News

IMF Says U.S. And China Slowdowns Will Hold Back Global Growth

  

CNBC: IMF cuts 2022 global growth forecast as U.S., China recovery wanes 

* The International Monetary Fund has downgraded its 2022 global growth forecast to 4.4%. 

* In its World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to grow 0.5 percentage points less than previously estimated. 

* The revised outlook is largely due to growth markdowns in the world’s two largest economies; the U.S. and China. 

The International Monetary Fund has downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery. 

In its delayed World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — with this year’s figure being half a percentage point lower than previously estimated. 

“The global economy enters 2022 in a weaker position than previously expected,” the report noted, highlighting “downside surprises” such as the emergence of the omicron Covid variant, and subsequent market volatility, since its October forecast. 

The revised outlook is led by growth markdowns in the world’s two largest economies; the U.S. and China. 

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 IMF Says U.S. And China Slowdowns Will Hold Back Global Growth 

IMF slashes global growth outlook amid Omicron hit -- France 24 

IMF cuts 2022 economic growth outlook amid inflation -- DW 

I.M.F. Forecasts U.S. and China Slowdowns Will Hold Back Growth -- New York Times  

Omicron leads IMF to cut global economic forecast -- from about 6% to 4.4% -- for 2022 -- UPI  

Inflation and Omicron will dent world growth in 2022, says IMF -- The Guardian 

Recovery disrupted: IMF cuts global economic growth forecast -- Al Jazeera  

IMF lowers expectations for global growth as US, China downshift -- Yahoo News