News Snapshot:
The International Monetary Fund (IMF) on Tuesday slashed this year’s economic growth forecast for Asia and warned that a fresh wave of COVID-19 infections, supply chain disruptions and inflationary pressures pose downside risks to the outlook. has done. China’s economy will grow at 8.0 per cent this year and 5.6 per cent in 2022, but the recovery remains “unbalanced” due to repeated coronavirus outbreaks and fiscal tightening on consumption. The IMF said any “premature policy normalization or mis-policy communication” by the US Federal Reserve could trigger significant capital outflows and higher borrowing costs for Asian emerging economies. In its Regional...
