International Monetary Fund
Managing Director Kristalina Georgieva
speaking, wide-ranging comments:
- Not expecting to downgrade October forecast for 2.7% global growth in 2023
- Inflation remains stubborn and central banks must continue to press for price stability
- Downside risk of spiking oil prices did not materialize, labor markets remain vibrant
- Expects global economy to 'bottom out' toward end of 2023, early 2024, barring unexpected surprises
- Important for China to 'stay the course' in reversing earlier zero-covid policy
- Biggest risk to 2023 outlook is possible spilllover from Russia's war in Ukraine, social unrest
- IMF's projection for 4.4% growth in china depends on transition away from zero-covid policy
- Any US Recession would be mild, expects China to become net contributor to global economy by mid-year
Says the Bank of Japan is pursuing appropriate review of monetary policy stance but should keep policy accommodative
Headlines via Reuters
