News Snapshot:
IMF slashes Asia growth forecast, warns of ‘ravaging' Covid spread & supply-chain disruptions The International Monetary Fund has lowered its 2021 growth forecast for the Asian economy to 6.5%, down by 1.1 percentage points from its April projection. "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... [Read...
