Friday , 19 July 2024
Home Global Economy Economy in Corona times: The IMF lowers the thumb
Global Economy

Economy in Corona times: The IMF lowers the thumb

The International Monetary Fund is lowering its forecast for the global economy citing the spread of the omicron variant of the coronavirus, higher energy prices, rising inflation and a worsening outlook for the world’s two largest economies – the United States and China.

Gita Gopinath, economic advisor and director of the research department of the International Monetary Fund: “At the beginning of the third year of the pandemic, the death toll has risen to 5.5 million. The associated economic losses are expected to total nearly $13.8 trillion by 2024 compared to pre-pandemic projections.”

Global growth is expected to slow to 4.4 percent from 5.9 percent. The IMF lowered its forecast for the euro area by 0.4 percentage points to 3.9 percent in 2022. For 2023, the IMF expects growth to slow to 2.5 percent. Corona is still in control of the economy. But that, experts say, is about to change. Gita Gopinath again: “The latest global economic outlook from the IMF assumes that Omicron will weigh on economic activity in the first quarter of this year, but that this effect will subside from the second quarter.”

A return to an extensive normality is of central importance for the European and also for the global economy. Even more state of emergency is probably difficult to cope with.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Global Economy

Spotlight on 2023: S&P 500 and the Significance of the 4400 Level

In our past exploration of the financial landscape of 2023, we delved...

Global Economy

AI and Data Analytics Drive Efficiency in Money Laundering Detection

BIS Innovation Hub Turns to Tech for Money Laundering Detection The BIS...

Global Economy

Russell 2000 Gains Momentum as Tech Stocks Outperform Value

Tech stocks have dominated the equity markets in recent months, surpassing value...

Global Economy

Crypto Exchange Bybit Announces Exit from Canadian Market Amid Regulatory Changes

Regulatory Shifts Prompt Bybit's Strategic Withdrawal from Canadian Crypto Market