News Snapshot:
IMF slashes Asia growth forecast, warns of ‘ravaging’ Covid spread & supply-chain disruptions "Risks are tilted to the downside, mainly because of uncertain pandemic dynamics, vaccine efficacy against virus variants, supply chain disruptions, and potential global financial spillovers from the US monetary normalization," the IMF said, adding that “The global Covid-19 pandemic is still ravaging the region.” Nevertheless, Asia-Pacific will remain the fastest-growing region in the world, it added. China's economy is expected to grow by 8% in 2021 and 5.6% in 2022. "But the recovery remains unbalanced because private consumption continues to lag amid repeated outbreaks and significant fiscal...
