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    Five Chinese state-owned companies to delist their shares on Wall Street

    Five Chinese state-owned companies to delist their shares on Wall Street

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    Crypto companies are increasing spending on sports sponsorships

    Qualcomm and GlobalFoundries to double semiconductor production

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    McDonald’s reopens restaurants in Ukraine after six months

    McDonald’s reopens restaurants in Ukraine after six months

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    OPEC downgrades oil demand outlook for the remainder of 2022

    OPEC downgrades oil demand outlook for the remainder of 2022

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    Bank of England raises interest rates to 1.75%

    How Pelosi’s trip to Taiwan could impact global markets?

    How Pelosi’s trip to Taiwan could impact global markets?

    Platinum and palladium drop in price on global slowdown

    Platinum and palladium drop in price on global slowdown

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    Five Chinese state-owned companies to delist their shares on Wall Street

    Five Chinese state-owned companies to delist their shares on Wall Street

    Saxo Bank: UK is becoming an emerging market

    Saxo Bank: UK is becoming an emerging market

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    OPEC+ raises oil production target by 100,000 barrels per day

    OPEC+ raises oil production target by 100,000 barrels per day

    G7 proposes to block Russian oil transit

    G7 proposes to block Russian oil transit

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    S&P 500: Top 4 sectors to invest in 2022

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    Janet Yellen: “We are not seeing a recession at this time”

    Inflation in the eurozone was 8.9% in July

    Inflation in the eurozone was 8.9% in July

    U.S. consumer spending rises more than expected

    U.S. consumer spending rises more than expected

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    General Motors stock suffers due to supply problems

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    Callaway cuts earnings even on record revenues: good entry point

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    S&P 500: Top 4 sectors to invest in 2022

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    The price of coal is soaring: By investing in this company, you can benefit from the rise

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    Farmland: Why are the rich investing in it?

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    Mining companies earned millions in 2021: How to invest in them in 2022?

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    A textbook exit scam: the Juicy Fields case in detail

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    Which are the best dividend paying stocks in the S&P 500?

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    Qualcomm and GlobalFoundries to double semiconductor production

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  • Home
  • News
    Five Chinese state-owned companies to delist their shares on Wall Street

    Five Chinese state-owned companies to delist their shares on Wall Street

    Crypto companies are increasing spending on sports sponsorships

    Crypto companies are increasing spending on sports sponsorships

    Qualcomm and GlobalFoundries to double semiconductor production

    Qualcomm and GlobalFoundries to double semiconductor production

    McDonald’s reopens restaurants in Ukraine after six months

    McDonald’s reopens restaurants in Ukraine after six months

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    OPEC downgrades oil demand outlook for the remainder of 2022

    OPEC downgrades oil demand outlook for the remainder of 2022

    Bank of England raises interest rates to 1.75%

    Bank of England raises interest rates to 1.75%

    How Pelosi’s trip to Taiwan could impact global markets?

    How Pelosi’s trip to Taiwan could impact global markets?

    Platinum and palladium drop in price on global slowdown

    Platinum and palladium drop in price on global slowdown

  • Markets
    Five Chinese state-owned companies to delist their shares on Wall Street

    Five Chinese state-owned companies to delist their shares on Wall Street

    Saxo Bank: UK is becoming an emerging market

    Saxo Bank: UK is becoming an emerging market

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    The hedge fund Melvin Capital continues to be investigated by the SEC.

    OPEC+ raises oil production target by 100,000 barrels per day

    OPEC+ raises oil production target by 100,000 barrels per day

    G7 proposes to block Russian oil transit

    G7 proposes to block Russian oil transit

    S&P 500: Top 4 sectors to invest in 2022

    S&P 500: Top 4 sectors to invest in 2022

    Janet Yellen: “We are not seeing a recession at this time”

    Janet Yellen: “We are not seeing a recession at this time”

    Inflation in the eurozone was 8.9% in July

    Inflation in the eurozone was 8.9% in July

    U.S. consumer spending rises more than expected

    U.S. consumer spending rises more than expected

  • Investing
    General Motors stock suffers due to supply problems

    General Motors stock suffers due to supply problems

    Callaway cuts earnings even on record revenues: good entry point

    Callaway cuts earnings even on record revenues: good entry point

    S&P 500: Top 4 sectors to invest in 2022

    S&P 500: Top 4 sectors to invest in 2022

    The price of coal is soaring: By investing in this company, you can benefit from the rise

    The price of coal is soaring: By investing in this company, you can benefit from the rise

    Farmland: Why are the rich investing in it?

    Farmland: Why are the rich investing in it?

    Jefferies anticipates difficulties for Lululemon: there is room to wait

    Jefferies anticipates difficulties for Lululemon: there is room to wait

    Mining companies earned millions in 2021: How to invest in them in 2022?

    Mining companies earned millions in 2021: How to invest in them in 2022?

    A textbook exit scam: the Juicy Fields case in detail

    A textbook exit scam: the Juicy Fields case in detail

    Which are the best dividend paying stocks in the S&P 500?

    Which are the best dividend paying stocks in the S&P 500?

  • Technology
    Electric cruise ships: a business niche about to set sail

    Electric cruise ships: a business niche about to set sail

    Qualcomm and GlobalFoundries to double semiconductor production

    Qualcomm and GlobalFoundries to double semiconductor production

    why are Apple and Google fighting over the color of bubbles?

    Why are Apple and Google fighting over the color of bubbles?

    Spotify’s financial results exceed expectations

    Spotify’s financial results exceed expectations

    General Motors and LG obtain 2.5 billion dollars to develop lithium batteries

    General Motors and LG obtain 2.5 billion dollars to develop lithium batteries

    Blockchain emerging as an alternative to SWIFT

    Blockchain emerging as an alternative to SWIFT

    Wages in the metaverse will be 50% higher, says study

    Wages in the metaverse will be 50% higher, says study

    $100 billion in revenue for China’s telecommunications industry

    $100 billion in revenue for China’s telecommunications industry

    Germany’s Volkswagen to overtake Tesla in sales by 2024, according to Bloomberg

    Germany’s Volkswagen to overtake Tesla in sales by 2024, according to Bloomberg

  • CryptocurrenciesTRENDING
    Crypto companies are increasing spending on sports sponsorships

    Crypto companies are increasing spending on sports sponsorships

    Director of the Central Bank of Brazil highlights the advantages of Bitcoin

    Director of the Central Bank of Brazil highlights the advantages of Bitcoin

    Crypto massification is inevitable, says Vitalik Buterin

    Crypto massification is inevitable, says Vitalik Buterin

    Cryptocurrency market: How to segment it?

    Cryptocurrency market: How to segment it?

    UK court finds Craig Wright’s claims “false”

    UK court finds Craig Wright’s claims “false”

    Security flaw allowed hackers to steal nearly $200 million from Nomad

    Security flaw allowed hackers to steal nearly $200 million from Nomad

    Solana opens an exclusive store in New York

    Solana opens an exclusive store in New York

    Bitcoin developer wants currency to have “infinite supply”

    Bitcoin developer wants currency to have “infinite supply”

    Titanium Blockchain CEO Pleads Guilty to Fraud

    Titanium Blockchain CEO Pleads Guilty to Fraud

INVESTOR TIMES
Home Markets

IMF cuts global growth forecasts

The agency has lowered its growth outlook due to the latent possibility of a global recession

Eric Nesich by Eric Nesich
7/26/2022 - 11:36
in Markets, News
Reading Time: 2 mins read
Share on FacebookShare on TwitterShare on LinkedIn
  • The IMF cuts its growth forecasts reported in April.
  • The possibility of a global recession is getting closer.
  • Inflation coupled with the Russia-Ukraine war are the main factors.

The IMF cut its global growth forecasts on Tuesday. The entity warned that there is a latent risk with high inflation and the Russia-Ukraine war that is far from over. These two factors could push the world economy into recession if they are not brought under control.

World GDP will decline to 3.2% in 2022 compared to a forecast of 3.6% in April this year. World GDP is falling because of recessions in Russia and China, the International Monetary Fund said. Likewise, the world growth forecast for 2023 was also lowered from 3.6% to 2.9%, due to the tougher monetary policies by central banks’ interest rate hikes.

These numbers contrast with 2021 given that global growth had risen 6.1% after 2020 closed 3.1% down due to the COVID-19 pandemic.

“The outlook has darkened significantly since April. The world could soon be on the brink of a global recession, just two years after the last one,” IMF chief economist Pierre-Olivier Gourinchas said in a statement.

The outlook for the future is remarkably uncertain and all is tied to the evolution of the war between Russia and Ukraine, which drove up energy and food prices. This generated more inflation and led to a tightening of global monetary policies.

Growth in Europe and the United States will be close to zero by 2024. The global slowdown will fall to 2.6% this year and 2% in 2023%. Global growth only fell below 2% five times since 1970. One of those occasions was in 2020.

The inflation rate in 2022 is also expected to reach 6.6% compared to 5.7% in the April forecast. It will remain elevated for a prudent period of time. Inflation in emerging countries is also expected to decline. Although the tightening of monetary policies exacerbates difficulties, central banks have to follow this path to control inflation, the IMF said.

Regarding the U.S. economy, the forecast is for a growth of 2.3% in 2022 and barely 1% in 2023, due to the slowdown in demand. Meanwhile, for the Eurozone (due to its proximity to the Russian-Ukrainian conflict), growth prospects have been reduced to 1.2%, especially in countries very sensitive to the effects of the war, such as Germany.

Tags: economic crisisIMF Reportinflation

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