IMF to lower global growth forecast for 2022


The war in Ukraine, high inflation and the economic slowdown in China make the institution foresee a decline in growth. Its updated global growth forecasts will be published at the end of July.

The International Monetary Fund will revise down its global growth forecast for this year due to a combination of factors including war in Ukraine, high inflation and a slowdown in China, its spokesman said Thursday. “We can reasonably expect that there will be a downward revision to the growth forecast for 2022 compared to what we forecast.in April, Gerry Rice said during a press briefing.

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The IMF had already lowered its global growth projections to 3.6%. And, the Washington institute is due to publish its updated global growth forecasts at the end of July. “So much has happened and it has happened very quickly since we last published our forecast.“, underlined Gerry Rice. “The war in Ukraine continues. Commodity prices continue to be very volatile, energy prices, especially food prices, are very high. The slowdown in the Chinese economy (…) seems to be more serious than expected“, he listed.

He also cited inflation which continues to accelerate “especially in a number of advanced economies leading to monetary policy tightening“. It is ultimately “a convergence of crisesall of which weigh on growth, said Gerry Rice. Monday, the other major institution in Washington, the World Bank, announced that it now expects growth in global gross domestic product of 2.9%, against 4.1% estimated in January. She had also pointed out the risk of stagflation with a “prolonged period of low growth and high inflation“.


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