Global Economics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief
IMF Adjusts Economic Forecast for New Fragmented World
Inflation Expected To Remain High 'For Much Longer'
April 19, 2022—War, rising energy costs, and a de-globalizing world are impacting the global economy in large and small ways. The International Monetary Fund is taking note and is adjusting its projection for economic growth to 3.6 percent for 2022 and 2023. That's down from 6.1 percent growth last year.
Russia's war on Ukraine and the retaliating sanctions against Russia and Belarus are having the largest impact, according to Pierre-Olivier Courinchas, a lead economist with the IMF. But other factors are weighing down growth prospects too: Inflation, a slowdown in China, and monetary tightening by central banks.
Fragmentation Reversing Gains From Globalization
The IMF is trying to keep the world integrated, Courinchas said. D...