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Added on the 13/10/2021 15:30:23 - Copyright : Euronews EN
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
Growth
During its annual Spring Meeting in Washington, the International Monetary Fund has revised its forecasts upward to 7 percent for global inflation this year and 4.9 percent in 2024. Those figures, above the target rate of 2 percent, will be contributing factors in slowing down growth, including for developing economies. Also in the show, Switzerland holds parliamentary hearings to review the takeover of embattled bank Credit Suisse by its rival UBS. Plus, Chile passes a law to gradually reduce the working week to 40 hours.
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
IMF lowers 2023 global growth forecast to 2.8%, down from 2.9%
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