Davos, Switzerland | Xinhua | The International Monetary Fund (IMF) on Tuesday warned of further headwinds for the global economy and spiralling inflation around the world due to the conflict in Ukraine, while voicing that China will remain an engine of growth after the “near-term headwinds”. “We are seeing additional weaknesses …
Read More »IMF downgrades 2022 global growth forecast to 4.4 pct amid Omicron surge
Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday projected the global economy to grow by 4.4 percent in 2022, down by 0.5 percentage point from October’s forecast, according to a newly released update to its World Economic Outlook report. Growth will slow as economies grapple with supply …
Read More »IMF chief economist Gita Gopinath to leave post, return to Harvard University
Washington, U.S. | Xinhua | Gita Gopinath, chief economist and director of the Research Department at the International Monetary Fund (IMF), intends to leave the IMF in January 2022, and return to Harvard University as planned, the IMF announced on Tuesday. “Gita’s contribution to the Fund and our membership has been …
Read More »IMF revises down 2021 global economy forecast to 5.9 pct
Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday projected that the global economy would grow by 5.9 percent in 2021, down by 0.1 percentage points from July’s forecast, according to the latest World Economic Outlook. “The global recovery continues but momentum has weakened, hobbled by the pandemic,” …
Read More »IMF projects global economy to grow by 6% in 2021, highlighting widening divergence
The recovery remains uneven across regions, depending on access to vaccines Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday maintained its global economic growth forecast at 6 percent for 2021, with economic prospects diverging further across countries since April’s forecast, according to the latest World Economic Outlook …
Read More »COMMENT: Flexible exchange rates
Why currency depreciation doesn’t always allow exports to decline relative to a producer’s imports COMMENT | GITA GOPINATH | In 1953, Milton Friedman published an essay called `The Case for Flexible Exchange Rates’, arguing that they cushion an economy from internal and external shocks by bringing about just the right price …
Read More »The IMF’s next test
By Gita Gopinath Is it prepared to provide “forward guidance” on how it will tackle potential disruptions in financial markets? This October, central bankers, policymakers, private-sector executives, academics, and representatives of civil-society organisations will convene in Washington, DC, for the annual joint meeting of the International Monetary Fund and the …
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