From Breakingviews - IMF dashes hopes of growth rebound
A man walks past the International Monetary Fund logo at its headquarters in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas/File Photo
WASHINGTON, April 11 - The International Monetary Fund may have just hammered the final nail in the coffin of a complete economic rebound. With downside risksits outlook, the IMF’s estimates dash any remaining hopes of a full recovery from recent years’ shocks. The agency expects the world economy to grow just 3% in 2028, the weakest medium-term forecast since 1990, according toreleased Tuesday. Even worse, the IMF’s economists see the world continuing to fall behind its pre-pandemic trajectory. The shortfall between actual growth and expected growth reached 1 percentage point in 2022. That gap is expected to widen to 2.7 points by 2026.
Put simply, the world economy will probably never regain the growth trajectory it had before the pandemic and Russia’s invasion of Ukraine. That’s a harsh reversal from recent hopes of a V-shaped recovery and a . And as bank failures present new risks, investors, companies and households would do better to adapt to a bleaker reality than dreaming of a fading ideal.
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