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Global Growth Outlook to Be Cut Further by IMF

In response to moves by the World Bank and Organization for Economic Co-operation and Development (OECD) to cut their own forecasts this week, an IMF spokesperson said on Thursday that the IMF plans to further cut the forecast for global economic growth in 2022 next month.

The IMF has already downgraded three times this year. Global economic growth for 2022 and 2023 had already been cut by nearly a full point by the IMF in April.

“Clearly a number of developments have taken place that could lead us to revise down further,” Rice told reporters. “So much has happened and (is) happening very quickly since we last came with our forecast.”

Gerry Rice, IMF spokesperson, told a regular briefing that overall growth is still expected, albeit at a slower pace, but that some countries may be experiencing recessions.

10 June 2022


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