IMF cuts forecasts for Asia, warns region will be worst-hit


The International Monetary Fund on Friday cut its growth forecasts for Asia and the Pacific to 4.0 percent this year and 4.3 percent next year, compared with its 4.9 percent and 4.8 percent projections in April, respectively. The IMF attributed the expected slower growth to monetary policy tightening to fight inflation, Russia's prolonged war in Ukraine and a "sharp and uncharacteristic slowdown" in the Chinese economy. The IMF also warned of economic scars on the region left by the coronavirus pandemic, which has led to lower levels of investment and is expected to provoke a long-term fall in...

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