ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

IMF cuts global and Asian growth estimates as recession risk looms

COVID shutdowns and real estate slump in China bog down rest of region

A construction site in Beijing. The IMF cut China's growth projection by 1.1 percentage point to 3.3% for 2022.   © Reuters

NEW YORK -- The International Monetary Fund has lowered its 2022 economic forecasts for global growth to 3.2% and for emerging and developing Asia to 4.6% amid a Chinese economic downturn and the continued spillover from Russia's war in Ukraine.

"The risks to the outlook are overwhelmingly tilted to the downside," IMF chief economist Pierre-Olivier Gourinchas said Tuesday in a virtual news conference for the fund's first update to the April edition of its World Economic Outlook report.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more