Is this the ‘secret sauce’ in the region’s recovery?
‘The pandemic has taken a significant toll, following five years of strong growth and job creation’
Broad-based recovery cannot start until the health crisis is over
Amid a gloomy picture, there are signs that emerging market debt may have better times ahead
But IMF predicts $12trn-plus hit to global economy and slashes output forecast
She previously held senior positions at the ECB and IMF
A day after it published a rosy global economic outlook, the International Monetary Fund sketched the contours of the next financial crisis, urging policymakers to take measures to rein in exuberance.
In a sign the world economy is heating up, the International Monetary Fund (IMF) has revised its global GDP growth forecasts upwards for the second time this year. The global recovery is still “incomplete” though, it claimed.
The International Monetary Fund has warned against the effects of reining back asset purchases by the European Central Bank, as the ‘Draghi put’ sees its fifth anniversary.
The lending organisation had strong words about difficulties in “critical areas”, while Rhodium Group warned that wealth management products are behind shadow financing that is driving “unsustainable” economic growth, creating conditions similar to those that led to the 2007-2008 global financial crisis.