IMF cuts Asia’s growth forecasts, warns of strong dollar strains

TOKYO – The International Monetary Fund (IMF) cut Asia’s economic growth forecasts on Tuesday, with rising inflation forcing many central banks to tighten monetary policy even as exports face the brunt of slowing growth in trade partners such as the United States. The downgrade underscores heightening uncertainty over Asia’s recovery from the Covid-19 pandemic as darkening growth prospects for the US, China and the euro zone economies stoke fear of a global recession. Monetary policy divergence from steady US interest rate hikes is likely to continue strengthening the US dollar, worsening the debt woes of emerging economies and forcing some…