“Rising food and energy prices, slowing capital flows in emerging markets, the ongoing pandemic and the slowdown in China make it even” much more difficult “for policymakers, said Ceyla Pazarbasioglu, IMF director of strategy on Sunday. “It’s shock after shock that is really hitting the global economy.”
“The path to a soft landing is shortening”
Pazarbasioglu took the floor after a group of 20 finance ministers and central bank governors ended their meeting on Saturday without reaching a communiqué, highlighting the difficulty of coordinating a global response to soaring inflation and fears of recession.
Already in April, the IMF lowered its forecasts of global GDP growth in 2022 to 3.6 percent. In January, he predicted that it would be 4.4 percent.
