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Global Economy to Suffer ‘Significant Scarring,’ IMF Says

  • Chief economist says growth projections face fresh downgrade
  • Asian economies generally are further along the recovery path
Updated on

The global economy is recovering more slowly than expected from the coronavirus pandemic and will bear lingering scars from the experience, according to the International Monetary Fund.

The IMF is set to release economic growth projections June 24 that “will be, very likely, worse than what we had” in April, even as there remains “profound uncertainty” around the forecasts, Gita Gopinath, the IMF’s chief economist, said in a video recorded June 4 and released Friday as part of the seventh annual Asian Monetary Policy Forum.