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IMF Warns on Balance of Risks Facing Hong Kong’s Economy

Pedestrians in the Central area of Hong Kong.

Pedestrians in the Central area of Hong Kong.

Photographer: Billy H.C. Kwok/Bloomberg

The balance of risks facing Hong Kong’s economy are tilted to the downside, the International Monetary Fund warned in its annual assessment of the finance hub.

Risks to the economy include ongoing uncertainty linked to the pandemic, which could impact the flow of people and further weigh on consumption, the IMF said in its report. The Washington-based lender is forecasting economic growth to slow to 3% this year from an estimated 6.4% in 2021.