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MNI:Inflation Must Be Tamed Even If Recession Is The Price-IMF

(MNI) OTTAWA
(MNI)

Fund to mark down 2023 growth estimate a fourth time next week, Georgieva says.

Global policy makers must keep the fight to bring down inflation as their top priority, with central banks acting "decisively" and governments avoiding "indiscriminate" stimulus, IMF chief Kristalina Georgieva said Thursday, adding that stance means a fourth downgrade to global forecasts and leaves many economies on the brink of recession.

The fund's updated forecast outlook next week will cut the 2023 growth forecast from 2.9%, she said in the text of a "curtain raiser" speech for semi-annual IMF meetings.

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Global policy makers must keep the fight to bring down inflation as their top priority, with central banks acting "decisively" and governments avoiding "indiscriminate" stimulus, IMF chief Kristalina Georgieva said Thursday, adding that stance means a fourth downgrade to global forecasts and leaves many economies on the brink of recession.

The fund's updated forecast outlook next week will cut the 2023 growth forecast from 2.9%, she said in the text of a "curtain raiser" speech for semi-annual IMF meetings.

Keep reading...Show less