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11/29/2022, 7:23 PM (Source: TeleTrader)
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IMF to revise downward economic forecast for China

International Monetary Fund (IMF) Managing Director Kristalina Georgieva (pictured) said Tuesday that the institution will have to revise downward its economic forecast for China amid the most recent clashes in the country over the strict zero-COVID policy.

In an interview with AP, Georgieva called on China to shift away from mass lockdowns and take a more targeted approach, a measure that would benefit the world economy amid high inflation, energy crisis, and disrupted food supply.

"We see the importance of moving away from massive lockdowns, being very targeted in restrictions," she said. "So that targeting allows to contain the spread of COVID without significant economic costs."

Baha Breaking News (BBN) / JG