IMF, World Bank sound alarm about global economic outlook
IMF, World Bank sound alarm about global economic outlook T he International Monetary Fund, World Bank and others raised concerns about a worsening global outlook, while hopeful that China’s reopening will help support world growth. IMF Managing Director Kristalina Georgieva said indicators show further downgrades to global growth are likely. Speaking Friday after a meeting with China’s Premier Li Keqiang in Anhui province, Georgieva said China’s recalibration of its Covid policies would be a good thing for the domestic economy and the rest of the world. The IMF currently forecasts global growth will be 2.7% next year, slowing from 3.2% this year. The meeting was part of the “1+6” dialogue that China holds every year with heads of the IMF, World Bank, OECD, World Trade Organization and others. David Malpass, head of the World Bank, was also downbeat about the global outlook. "I’m deeply concerned that the world is at risk of a global recession,” Malpass said, warning of the potent...