Global economic outlook 'somewhat less dire' than expected – IMF
Saturday, 09 26 2020, Category: Economy, Country: World
The global economic outlook is not quite as dark as expected even just three months ago, a top International Monetary Fund official said on Thursday, citing better-than-anticipated economic data from China and other advanced economies.
However, IMF spokesman Gerry Rice told reporters the overall global outlook remained challenging as a result of the coronavirus pandemic and its impact on many economic sectors.
The situation remained “precarious” in many developing countries and emerging markets other than China, he said, noting that the IMF was also concerned about rising debt levels.
The IMF is due to release its latest World Economic Outlook on Oct. 13. In June, it slashed its 2020 global output forecasts further, forecasting the global economy would shrink by 4.9%, compared with a 3.0% contraction predicted in April.
Rice gave no fresh numbers, but said recent data from China and other advanced economies was better than expected.