Global Economic Recovery Losing Momentum, Inflation Persists - IMF

Global Economic Recovery Losing Momentum, Inflation Persists - IMF

The global economic recovery is losing some momentum and inflation is proving to be much more persistent than anticipated, Kristalina Georgieva, the International Monetary Fund (IMF) managing director, said on Friday

MOSCOW (Pakistan Point News / Sputnik - 21st January, 2022) The global economic recovery is losing some momentum and inflation is proving to be much more persistent than anticipated, Kristalina Georgieva, the International Monetary Fund (IMF) managing director, said on Friday.

"We anticipate the recovery to continue (for 2022), but it is losing some momentum and it is faced with the renew of infections, on top of them, the much more persistent than anticipated inflation," Georgieva said in her address at the Davos Global Economic Forum 2022.

The global economy is projected to grow by only 4% in 2022 and 3.5% the following year after a strong recovery in 2021, according to the new United Nations World Economic Situation and Prospects (WESP) 2022 report. New waves of COVID-19 infections, persistent labor market challenges, supply-chain disruptions, and soaring inflation are among the main factors hindering the global economic recovery, the report said.