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IMF Downgrades Global Growth Projections Amid Omicron Aftershocks
The International Monetary Fund (IMF) has projected global growth to downshift from 5.9 percent in 2021 to 4.4 percent this year. The global lender’s latest World Economic Outlook (WEO) report projected the global slowdown due to the “impediments” created by the Omicron variant although they are likely to subside in the second quarter of the ongoing calendar year. ALSO READ IMF to Take up Sixth Review of $6 Billion Extended Fund Facility on 2 February The global economy is entering 2022 “in a weaker position than previously expected”, the Washington-based crisis lender warned on Tuesday as it downgraded its global…