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IMF cuts global growth forecast

IMF cuts global growth forecast

The International Monetary Fund IMF is cutting its global growth forecast this year. The director of the IMF, Kristalina Georgiewa, cited increasing risks from inflation, debt and a sharp difference in growth prospects between vaccinated and largely unvaccinated countries.

The IMF director said: “Our top priority today is fighting the pandemic, so get vaccinated. This is how we protect people and the recovery of the world economy. But we also need to consider how we can be better prepared for pandemics in the future to mobilize better globally. ”

There is a risk that higher than expected inflation could cause central banks to raise interest rates and push growth even further. Global food prices rose by 30 percent last year, said Georgieva.

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