Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

IMF warns it will cut global growth forecast again with ‘darkened’ outlook

by
July 14, 2022
in Investing News
0
IMF warns it will cut global growth forecast again with ‘darkened’ outlook
0
SHARES
16
VIEWS
Share on FacebookShare on Twitter

THE International Monetary Fund (IMF) warned it will again cut the forecast for global economic growth as impacts reverberate from Russia’s invasion of Ukraine, pandemic-related shutdowns in China and higher inflation.    

The outlook for this year and next will be downgraded later this month when the IMF releases its World Economic Outlook Update, Managing Director Kristalina Georgieva wrote in a blog post published on Wednesday, without providing specific figures.  

“The outlook remains extremely uncertain,” she wrote. “It is going to be a tough 2022 — and possibly an even tougher 2023, with increased risk of recession.”  

The global recovery from the pandemic has been compromised by surging commodities prices on the back of the Ukraine war and a slowdown in China amid sustained coronavirus disease 2019 (COVID-19) restrictions. Stronger inflation is also forcing policy makers to raise interest rates, moves aimed at cooling price growth but that risk tipping economies into recessions.   

The IMF’s warning follows its April downgrade for global expansion this year to 3.6%, from 4.4% seen before the war in Ukraine. It also comes ahead of a meeting later this week of finance ministers and central bankers from the Group of 20.   

“The global economic outlook has darkened considerably, while inflation remains high,” the IMF said in a related note, adding that recent indicators point to a “very weak” second quarter.    

Ms. Georgieva’s comments on gross domestic product come a day after she raised the alarm on a global debt crisis in the making as central banks raise interest rates to curb inflation, increasing debt-servicing costs for vulnerable nations.  

Separately on Tuesday, the IMF downgraded its forecast for US gross domestic product this year and next, warning that a surge in inflation poses “systemic risks” to both the country and the global economy. — Bloomberg

ShareTweetPin

Related Posts

Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case
Investing News

Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case

August 23, 2022
ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts
Investing News

ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts

August 23, 2022
Malaysian trade official urges PHL to sign up for RCEP  
Investing News

Malaysian trade official urges PHL to sign up for RCEP  

August 23, 2022
Next Post
Netflix premieres new spy thriller

Netflix premieres new spy thriller

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Peso rebounds vs dollar on lower oil prices, PHL stocks’ 3-day rally

Peso rebounds vs dollar on lower oil prices, PHL stocks’ 3-day rally

August 4, 2022
RCEF aid called inaccessible as bid to repeal rice law intensifies

RCEF aid called inaccessible as bid to repeal rice law intensifies

July 20, 2022
SES satellites with ‘fiber-like speeds’ will be in PHL next year

SES satellites with ‘fiber-like speeds’ will be in PHL next year

June 22, 2022
Drug war mostly successful despite ‘excesses’ — DoJ

Drug war mostly successful despite ‘excesses’ — DoJ

June 15, 2022
BSP studying 3 key market infra technologies

BSP studying 3 key market infra technologies

June 23, 2022
New ‘karaoke’ mode which rates your singing appears on Spotify

New ‘karaoke’ mode which rates your singing appears on Spotify

June 29, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.