The Fact News Service

Rough times ahead: IMF’s warning to emerging economies amid Omicron

Washington, January 10

Emerging economies should gird for possible rough times as the US Federal Reserve prepares to raise interest rates and world economic growth slows because of the Omicron variant of Covid-19, the IMF warned Monday.

The International Monetary Fund, which is scheduled to release updated economic forecasts on January 25, said that for now global economic recovery from the ravages of the pandemic should continue this year and next.

But “risks to growth remain elevated by the stubbornly resurgent pandemic,” IMF economists Stephan Danninger, Kenneth Kang and Helene Poirson wrote in a blog post.