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The Latest Breaking News from PierreOlivier Gourinchas

Why the UK economy is worse off than Russia and other EU countries

IMF says UK economy will contract by a worse-than-expected -0.6 per cent

The Independent UK

Britain to be worst-performing major economy this year, warns IMF; UK mortgage approvals tumble and company insolvencies surge – as it happened

Britain is the only G7 economy forecast to shrink in 2023, the IMF says, as higher energy prices, rising mortgage costs and increased taxes hit growth.

The Guardian - UK

IMF Upgrades Outlook for the Global Economy in 2023

The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. That's the view of the International Monetary Fund, which now expects the world…

Asharq Al-Awsat

From analysis to the latest developments in health,
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IMF says recession "not in our baseline" as it raises global growth forecasts

"2023 could be the year of turning points, with growth bottoming out and inflation decreasing," IMF chief economist says.

Axios

Britain the only G7 economy forecast to shrink in 2023

IMF says UK economy is likely to contract 0.6% as rising interest rates and higher taxes take toll

The Guardian - UK

IMF chief sees light at the end of the tunnel amid global inflation and recession gloom

Kristalina Georgieva expects growth to bottom out this year.

Fortune

Liz Truss to face MPs after mini-budget wreaks financial chaos

Governor Andrew Bailey sparked more market turmoil after he said Bank of England support will end on Friday.

The Independent UK

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Pound falls sharply against dollar after Bank confirms bond-buying end date

Sterling falls more than a cent to below $1.10 after Andrew Bailey tells pension firms they have ‘got to get this done’

The Guardian - UK

IMF cuts 2023 global outlook over colliding global shocks

The three largest economies will ‘continue to stall’ and ‘the worst is yet to come’, it warned.

Al Jazeera

Indian economy doing fairly well; additional monetary tightening required, says IMF chief economist

WASHINGTON: India's economy is doing fairly well, but additional monetary tightening is required, Pierre-Olivier Gourinchas, chief economist of the IMF said on Tuesday, as the global lender trimmed its projection of the country's economic growth in 2022 to 6.8 per cent.

The Times of India

IMF cuts India’s FY 2022-23 growth forecast to 6.8%

The Fund cites Ukraine war, record-high inflation and effects of pandemic as key reasons; it expects inflation in the country to return to the tolerance band in the fiscal year 2023-24

The Hindu

IMF cuts 2023 global growth, warns major economies to stall

Global growth is expected to slow further next year, the International Monetary Fund (IMF) said Tuesday, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiralling cost-of-living and economic downturns.

Bangkok Post

IMF tells central banks to focus on inflation as recession looms

Fund says ‘worst yet to come’ because of rising living costs, Ukraine war and Chinese slowdown

The Guardian - UK

IMF says not holding active discussions on potential new SDR issue

A new issue of International Monetary Fund Special Drawing Rights reserves is among options that could be considered to aid countries struggling with spillovers from the Ukraine war but there are no active discussions on the matter, IMF officials said on Tuesday.

Reuters

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Asharq Al-Awsat

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

The Guardian - UK

IMF says global economy is edging towards recession

Fund cuts forecasts as US, China and eurozone stall and inflation beats expectations

The Guardian - UK

IMF cuts global growth forecast over Ukraine war

Economic gains made after recovery from Covid pandemic could be erased, says expert

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