“We see the global economy headed into a growth slowdown,” IMF spokesperson Gerry Rice said.
The IMF expects to once again cut its forecast for world growth this year amid a continued deterioration of conditions in the global economy, a fund official said Thursday.
“So much has happened and (is) happening very quickly,” IMF spokesperson Gerry Rice told reporters, including the ongoing war in Ukraine, accelerating inflation and a steeper-than-expected slowdown in China.
The fund in April cut the 2022 GDP estimate to 3.6% from 4.4%, but now “we’re seeing this confluence of crises… that could lead us to revise down further,” he said.
“We see the global economy headed into a growth slowdown,” Rice said, adding that “a number of countries may be looking at recession.”
The World Bank on Tuesday slashed its projection by more than a point to 2.9% and warned that the United States faces a worrisome return of 1970s-style “stagflation” with tepid growth, high joblessness and surging prices.
