Tag: EMDE

The International Monetary Fund (IMF) released a revised World Economic Outlook (WEO) in July 2022, lowering its projections for global economic growth. According to the most recent projections, the expansion of global production would drop to 3.2% in 2022 and 2.9% in 2023, an almost 50% decrease from 2021's 6.1% expansion. As a whole, growth projections have been lowered across the board, but they have been revised down significantly for the advanced countries, where they have gone from 5.2% to 2.5% to 1.4%. Growth in EMDEs, on the other hand, will decelerate from 6.8% to 3.6% before recovering somewhat to 3.9% throughout the timeframe. There are a number of causes behind the lowering of expected world growth. It is noted that the worldwide production dropped in the April-June quarter ...