Economy

IMF cuts global growth outlook for 2022, US and China recovery wanes

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The seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022.

Stefani Reynolds | AFP | Getty Images

The International Monetary Fund has downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery.

In its delayed World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — with this year’s figure being half a percentage point lower than previously estimated.

“The global economy enters 2022 in a weaker position than previously expected,” the report…



Source cnbc.com

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