Economics
IMF Says Economic Outlook Worsened Since Forecast in April
- Fund sees developing nations needing more than $2.5 trillion
- Crisis isn’t going away soon, Chief Economist Gopinath says
This article is for subscribers only.
The International Monetary Fund said that the global economic outlook has worsened since its latest forecast three weeks ago and the world can expect more waves of financial-market turbulence.
Developing nations’ external financing needs probably will be far above the $2.5 trillion that the IMF has previously projected, Chief Economist Gita Gopinath said in a webcast Thursday hosted by the Council on Foreign Relations. The fund will need all of its $1 trillion in current lending resources and isn’t being shy about telling countries how much support is needed, Gopinath said.