Global economy proving ‘remarkably resilient’ to recent shocks, says IMF

News Snapshot:

Fears of a worldwide recession triggered by the war in Ukraine and a cost of living crisis will prove unfounded, according to a health check from the International Monetary Fund. In its half-yearly world economic outlook, which was produced before the surprise attack on Israel by Hamas, the IMF said growth had shown “remarkable resilience” in the face of a series of adverse shocks in recent years with activity slowing but not stalling. Releasing its update at its annual meeting in Marrakech, the IMF said it detected little evidence of a wage-price spiral but warned central banks against cutting interest...