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Added on the 16/10/2019 00:00:00 - Copyright : France 24 EN
The International Monetary Fund has cut its global growth forecasts for the third time in less than a year, citing a sharp slowdown in China trade and weak commodity prices that are hammering Brazil and other emerging markets. Sonia Legg reports
The International Monetary Fund slightly lowers its outlook for the global economy, predicting the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January. SOUNDBITE
Surging inflation and severe slowdowns in the United States and China prompted the IMF to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse. SOUNDBITE
The impact of the war in Ukraine is spreading worldwide, causing the IMF to sharply downgrade its 2022 global growth forecast to 3.6 percent, IMF chief economist Pierre-Olivier Gourinchas says as he presents the latest World Economic Outlook. SOUNDBITE
The IMF downgrades its forecast for global economic growth this year, citing the impact of the Omicron variant of Covid-19, which contributed to a slowdown in the United States and China. World GDP is forecast to expand 4.4 percent this year, half a point lower than its previous estimate released in October, says IMF First Deputy Managing Director Gita Gopinath. SOUNDBITE
China's economy will grow slower than initially expected this year owing to a stronger-than-anticipated "fiscal tightening," IMF chief economist Gita Gopinath says. SOUNDBITE
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