Economics
IMF Says Asia Faces Long Recovery Slog Even as China Grows
- IMF lowers Asia outlook to see 2.2% contraction in 2020
- Debt monetization could be appropriate for some countries: IMF
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The Asia Pacific region is likely to see economic output remain below pre-pandemic trends over the medium term, even as China’s recovery leads the rest of the world, according to the International Monetary Fund.
In its latest assessment of the region, the IMF warned of significant downside risks and economic scarring as labor market participation falls with the most vulnerable likely to be the hardest hit.