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Vol 63 No 16

Published 4th August 2022

Economic cooperation falters as growth set to fall again

Hit by the pandemic and war, the most plausible forecasts for the global economy are bad or even worse, says the IMF

Two over-arching challenges dominate the global economy: how to cut inflation without triggering recession and cooperating on restructuring debt in emerging and developing economies, according to Pierre-Olivier Gourinchas, the IMF's chief economist. Gourinchas was speaking on 27 July after the IMF downgraded its forecast for global growth to 3.2% from its projection of 3.6% made in April.

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