IMF cuts 2022 global growth forecast to 3.2 pct, warns of downside risks

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IMF cuts 2022 global growth forecast to 3.2 pct, warns of downside risks

STORY: IMF cuts 2022 global growth forecast to 3.2 pct, warns of downside risks DATELINE: July 27, 2022 LENGTH: 00:00:42 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. exterior view of the IMF headquarters in Washington D.C. STORYLINE: The International Monetary Fund (IMF) on Tuesday slashed the global growth forecast for 2022 to 3.2 percent, down by 0.4 percentage point from the April projection, according to its newly released update to the World Economic Outlook (WEO). Several shocks have hit the world economy already weakened by the COVID-19 pandemic, including higher-than-expected inflation worldwide -- especially in the United States and major European economies -- triggering tighter financial conditions, and further negative spillovers from the Ukrainian crisis, the WEO update said. According to the WEO update, global inflation has been revised up due to food and energy prices, and is anticipated to reach 6.6 percent in advanced economies and 9.5 per

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