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IMF cuts Asia's growth forecast, warns of Covid-19 pandemic-driven risks

While the IMF upgraded next year's growth forecast, it warned the recovery will be sluggish and patchy with countries dependent on tourism seen taking a particularly hard hit.

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International Monetary Fund | Asia growth outlook

Reuters 

The International Monetary Fund slashed this year's economic forecast for Asia, reflecting a sharper-than-expected contraction in countries like India, a sign the coronavirus pandemic continues to take a heavy toll on the region. While the IMF upgraded next year's growth forecast, it warned the recovery will be sluggish and patchy with countries dependent on tourism seen taking a particularly hard hit. "Fear of infection and social distancing measures are dimming consumer confidence and will keep economic activity below capacity until a vaccine is ...

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First Published: Thu, October 22 2020. 01:42 IST
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