IMF reduces worldwide economic development expectations | MENAFN.COM

Wednesday, 28 September 2022 05:40 GMT

IMF reduces worldwide economic development expectations


(MENAFN) The International Monetary Fund (IMF) is expected to decrease its international economic development evaluation because of the fresh Omicron strain, stated the IMF’s chief at a meeting on Friday in a new indication of the disorder kicked off by the changing pandemic.

The new strain spread hastily to a minimum of 40 nations from its fist discover in south Africa in the past week, authorities declare, and a lot of governments intensified travel regulations in an attempt to protect their countries from the virus.

IMF Managing Director Kristalina Georgieva announced at the meeting, “A new variant that may spread very rapidly can dent confidence, and in that sense, we are likely to see some downgrades of our October projections for global growth,” adding “Is there something more that can be done, and we are looking at all the processes — are they sufficiently up to date with what others are doing?”

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