IMF: World Braces For Dim Economic News Prepares Forecasts


International Monetary Fund (IMF), says that 86 per cent of the global economy was likely to slow down in the near future.

A group of 143 countries representing 86 per cent of the global economy is expected to hear from the IMF on Tuesday.

The IMF was due to release its latest world economic outlook at 9 a.m. (1300 GMT) on Tuesday, and director Kristalina Georgieva had already warned that the news was likely to be downbeat.

The Russian invasion of Ukraine, which has resulted in disruption of exports from both commodity-rich countries, coupled with the Western sanctions piled on Russia in response, both play a role in the expected slowdown.

But the world had already been facing economic headwinds before the invasion, in the form of rising inflation rates, tougher conditions on global financial markets and the far-reaching effects of China’s current tough pandemic lockdowns.

READ ALSO: Afghan Govt Entrust 700 Soldiers

Already in January, the IMF had lowered its global economic forecast for 2022 by half a percentage point, to 4.4 per cent.

The new forecast will come during the IMF’s spring meeting in Washington, which will see a global gathering of finance ministers and central bankers.

High-ranking Ukrainian officials like Prime Minister Denys Shmygal were also expected.

Due to lingering concerns about the pandemic, some parts of the meeting would be conducted online.

Watch Leakblast TV channel from around the world

Call Us: +234(0)8080859239

Get us on Whatsapp: +234(0)8181166425


Good  journalism costs a lot of money.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble Endeavor.

By contributing to LeakBlast, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Support LeakBlast


Please enter your comment!
Please enter your name here