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LATEST NEWS UPDATES | IMF paints a gloomy growth picture -Partha Ray and Parthapratim Pal

IMF paints a gloomy growth picture -Partha Ray and Parthapratim Pal

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published Published on Aug 9, 2022   modified Modified on Aug 10, 2022

-The Hindu Business Line

Nations must rely more on innovative, home-grown solutions to deal with the uncertain economic situation

The International Monetary Fund (IMF), in its latest July 2022 World Economic Outlook (WEO) Update, foretells a story of a gloomy and more uncertain outlook for the global economy. While the global growth was projected at 3.6 per cent in April 2022, as per the latest July 2022 projections, it is 3.2 per cent, a 0.4 percentage point downward revision within three months.

Having been revised to 8.3 per cent in July 2022 from 7.4 per cent in April 2022, the projection for global inflation in 2022 also turned out to be more pessimistic. With all-around dollar appreciation with respect to most of the currencies, global trade is also projected to slow down. Do these projections reflect a cynical bias? Or are these indicative of some sort of Western view of the impact of the war?

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The Hindu Business Line, 9 August, 2022, https://www.thehindubusinessline.com/opinion/imf-paints-a-gloomy-growth-picture/article65751277.ece


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