Economics

IMF Downgrades Asia Pacific Forecast as Shocks Keep Rolling

Gantry cranes and containers at the Yangshan Deepwater Port in Shanghai, China.
Photographer: Qilai Shen/Bloomberg

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By Enda Curran

July 28, 2022 at 11:00 PM UTC

Updated on

July 29, 2022 at 4:15 AM UTC

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The International Monetary Fund has lowered its growth forecast for the Asia Pacific region this year to 4.2% -- 0.7 percentage point lower than it expected in April, and well below the region’s 6.5% growth in 2021.