By BUUMBA CHIMBULUMONETARY policy in many countries will this year need to continue on a tightening path to curb inflation pressures, as China’s ongoing retrenchment in real estate sector and slower-than-expected recovery of private consumption limits global growth prospects.This is according to the International Monetary Fund’s (IMF) World Economic Outlook released this month.According to the report, international cooperation would, in this context, be essential to preserve access to liquidity and expedite orderly debt restructurings where needed.It also stated that investing in climate policies remained imperative to reduce the risk of catastrophic climate change.“Monetary policy in many countries will need to continue on a tightening path to curb inflation pressures, while fiscal policy – operating with more limited space than earlier in the pandemic – will need to prioritise health and social spending while focusing support on the worst affected,” the outlook stated.Meanwhile, the report stated that the global economy entered 2022 in a weaker position […]
IMF predicts tightened policy rate for many countries
