MF upgrades outlook for the global economy in 2023 Published: Wednesday | February 1, 2023 | 12:34 AM The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. That’s the view of the International Monetary Fund, IMF, which now expects the world economy to grow 2.9 per cent this year. That forecast is better than the 2.7 per cent expansion for 2023 that the IMF predicted in October, though down from the estimated 3.4 per cent growth in 2022. The IMF noted that the world economy still faces serous risks. They include the possibility that Russia’s war against Ukraine war will escalate, that China will suffer a sharp increase in COVID cases and that high interest rates will cause a financial crisis in debt-laden countries. ### i. Explain THREE (3) main tasks and functions of the International Monetary Fund. iii. The IMF has drawn vocal criticism over the years. Highlight any TWO (2) such criticisms and discuss whether you agree or disagree with the arguments
IMF upgrades outlook for the global economy in 2023 Published: Wednesday | February 1, 2023 | 12:34 AM The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. That’s the view of the International Monetary Fund, IMF, which now expects the world economy to grow 2.9 per cent this year. That
i. Explain THREE (3) main tasks and functions of the International Monetary Fund.
iii. The IMF has drawn vocal criticism over the years. Highlight any TWO (2) such criticisms and discuss whether you agree or disagree with the arguments
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