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IMF slashes global growth estimate on slowing US, China
The IMF on Tuesday downgraded its forecast for global economic growth this year, citing the impact of the Omicron variant of Covid-19, which contributed to a slowdown in the United States and China.
World GDP is forecast to expand 4.4 percent this year, half a point lower than its previous estimate released in October, due to the "impediments" caused by the latest outbreak, the IMF said.
Omicron "threatens to set back this tentative path to recover," while inflation will remain high for longer than expected, the IMF warned.
