Fund sees global expansion slowing to 3.6% in 2022, down from a forecast of 4.4% in January before the war in Ukraine, while inflation is forecast at 5.7% in advanced economies and 8.7% in emerging and developing countries
Nearly-empty roads during a lockdown due to Covid-19 in Shanghai, China, on Tuesday, April 19 2022. Picture: BLOOMBERG/QILAI SHEN
The fund sees inflation for this year at 5.7% in advanced economies and 8.7% in emerging and developing countries, significantly higher than just a few months ago. The pace of consumer-price increases is expected to slow to 2.5% and 6.5%, respectively, in each group of nations in 2023. The IMF said there was a risk that inflation expectations become unanchored, prompting more aggressive central bank tightening.
In the US and some parts of Europe, inflation is accelerating to the fastest level in decades, spurring expectations for central banks to tighten monetary policy faster than previously foreseen. The euro area got a particularly sharp downgrade, with growth projected at 2.8% for this year, down from a previous 3.9% estimate.
Overall, the IMF forecasts advanced economies will grow 3.3% and sees emerging markets and developing economies expanding 3.8%, down from prior estimates of 3.9% and 4.8%, respectively.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Global growth outlook slashed by IMFThe International Monetary Fund slashed its world growth forecast by the most since the early months of the Covid-19 pandemic, and projected even faster inflation, after Russia invaded Ukraine and China renewed virus lockdowns.
Weiterlesen »
Sri Lanka leader trims cabinet of relatives ahead of IMF talksSri Lanka's embattled leader dropped two of his brothers and a nephew from his cabinet Monday, acknowledging public anger over the ruling family's mismanagement of a crippling economic crisis that has prompted calls for his resignation.
Weiterlesen »
Global growth outlook slashed by IMFThe International Monetary Fund slashed its world growth forecast by the most since the early months of the Covid-19 pandemic, and projected even faster inflation, after Russia invaded Ukraine and China renewed virus lockdowns.
Weiterlesen »
Shanghai reports more Covid deaths as officials push work resumptionChina reported seven more Covid-19 deaths in Shanghai on Tuesday, as major firms such as Tesla forged ahead to resume production after a damaging weeks-long lockdown.
Weiterlesen »
Business Maverick: China’s Property Sector Contracts for Third Straight QuarterChina’s property sector contracted for a third straight quarter, a sign that real estate was still dragging on the economy, even before the recent Covid outbreaks and lockdowns began to escalate.
Weiterlesen »
Tesla, others prepare Shanghai factory restarts as city aims to ease lockdownMost businesses in China's economic hub have been forced to shut for nearly three weeks due to a Covid-19 lockdown
Weiterlesen »