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IMF to cut global growth outlook 'substantially' at next review

Bloomberg
Bloomberg7/17/2022 09:05 PM GMT+08  • 2 min read
IMF to cut global growth outlook 'substantially' at next review
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The International Monetary Fund will cut its global economic growth outlook “substantially” in its next update, as finance chiefs grapple with a shrinking list of options to address the worsening risks.

Surging food and energy prices, slowing capital flows to emerging markets, the ongoing pandemic and a slowdown in China make it “much more challenging” for policymakers, Ceyla Pazarbasioglu, the IMF’s director for strategy, policy and review, said at a Sunday panel in Bali, Indonesia. “It’s shock after shock after shock which are really hitting the global economy.”

She spoke after the Group of 20 finance ministers and central bank governors ended their meeting on Saturday without reaching a communique, underlining the difficulty in coordinating a global response to surging inflation and recessionary fears.

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