The latest world economic outlook from the IMF paints a bleak picture of global prospects, one that brings it in line with the gloomiest predictions that for months have been emanating from private-sector economists.
The fund now predicts a global economic contraction of 1.3 per cent.
But the IMF’s prognosis for this region marks a particularly sharp contrast with its last forecast, sparking some economists to question whether the organisation, based in Washington, is now erring on the side of an increasingly popular pessimism.
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