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Faltering global economy faces total pandemic hit of $14 trillion
The pandemic will continue to stoke uncertainty and inflation in its third year, undermining the global recovery from the coronavirus and pushing total economic losses toward $14 trillion. That's according to the International Monetary Fund, which on Tuesday slashed its global growth forecast for 2022 by half a percentage point to 4.4%. The group said the world's two largest economies, the United States and China, would grow more slowly than it predicted in October. The IMF sees America's economic output increasing 4% this year after rising by 5.6% in 2021. It shaved 1.2 percentage points off its previous forecast ... (full story)