IMF forecasts global growth to slow to 3.2pc in 2024 and 2025 amid regional shifts, inflation decline

WASHINGTON, Oct 23 — Global growth is expected to ease slightly to 3.2 per cent this year and remain at that level in 2025, the IMF announced Tuesday, while warning that the...

Changing the Malay perspective: Capt Nik, former MAS pilot says ‘if a dog cares for you, no religion will tell you not to care for it’

“The battle against inflation is almost won,” IMF chief economist Pierre-Olivier Gourinchas told reporters Tuesday. “The decline in inflation without a global recession is a major achievement.” The WEO’s publication comes a day after the IMF and World Bank Annual Meetings got underway in Washington, bringing together finance ministers and central bankers from around the world for meetings on the health of the global economy.The report finds that the United States has remained an engine of global growth — in sharp contrast with the euro area, where expansion remains slow.

He added that the United States is “very close” to achieving a soft landing — a rare feat in monetary policy, where inflation falls to within targets without spurring a severe recession. The Fund expects the growth in economic output in China to continue to cool, easing from 5.2 per cent last year to 4.8 per cent this year, and then falling further to 4.5 per cent in 2025.

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