The International Monetary Fund (
IMF) approved a loan package for Argentina.
国际货币基金组织（
IMF）批准了对阿根廷的贷款方案。
The
IMF forecast a global economic slowdown for the coming year.
国际货币基金组织预测来年全球经济将放缓。
The government submitted a request to the
IMF for financial assistance.
政府向国际货币基金组织申请财政援助。
The
IMF recommends countries maintain a balanced budget.
IMF建议各国保持财政平衡。
The G20 nations meet annually to discuss issues with the
IMF.
G20国家每年会面讨论与国际货币基金组织相关的问题。
The
IMF conducts regular assessments of member countries' economic health.
IMF定期评估成员国的经济状况。
The
IMF played a crucial role in stabilizing the global financial system after the 2008 crisis.
在2008年金融危机后，
IMF在全球金融稳定中发挥了关键作用。
Developing countries often rely on
IMF loans to finance their fiscal deficits.
发展中国家通常依赖
IMF贷款来弥补财政赤字。
The
IMF's lending conditions often include policy reforms as a prerequisite.
IMF的贷款条件通常包括政策改革作为前提。
Many argue that the
IMF's policies can be too rigid and inflexible for some countries.
许多人认为
IMF的政策对某些国家来说可能过于僵化和缺乏灵活性。
In its latest World Economic Outlook, the IMF predicted the Chinese economy would grow 6.8 percent this year and 6.5 percent in 2018, which was 0.1 percent higher than July's forecast.
The International Monetary Fund (IMF) on Monday revised up China's growth forecast for 2017 and 2018 to 6.7 percent and 6.4 percent respectively.
The IMF forecast that China's economic growth in 2024 would be 4.6 percent.
Both the IMF and the World Bank have cited continued weakness in the real estate sector and persistently sluggish global demand as factors that clouded the outlook.
The International Monetary Fund (IMF) on Thursday reiterated its upward revision of China's economic growth forecast for 2023 and 2024.
Based on the latest forecast, the IMF expects the Chinese economy "to meet the government's 2023 growth target of around 5 percent, and this reflects the post COVID recovery," IMF spokesperson Julie Kozack said at a press briefing in response to a question from Xinhua.
After an IMF team conducted discussions with Chinese officials on the 2023 Article IV Consultation, the agency announced in early November to upgrade its forecast for the Chinese economy for 2023 to 5.4 percent from 5.0 percent, and for 2024 to 4.6 percent from 4.2 percent, as compared with its World Economic Outlook released in October.
She noted that over the medium term, the IMF expects growth in China to further slow, reflecting an aging population as well as slowing productivity growth.
China's GDP is forecast by Moody's to grow by 4 percent next year, lower than the IMF's forecast of 4.6 percent.
Li Xin, deputy representative of the International Monetary Fund in China, said that new studies by the IMF have shown that de-risking strategies will have a severe impact on global economic growth.
The IMF, however, cautioned that growth could slow in 2024 amid property market weakness and subdued external demand.
Gita Gopinath, the IMF's first deputy managing director, said the projection was revised upward from 5 percent in October, reflecting a stronger-than-expected third-quarter output and recent policy announcements.
IMF official highlights nation's driving force, contribution amid headwindsChina is projected to contribute more than 30 percent to global economic growth in 2023, highlighting the anchoring role of the world's second-largest economy in a more vulnerable world with rising financial risks, leading experts said at a forum over the weekend.
The IFF serves as a platform for dialogue and multilateral cooperation, established by financial leaders from more than 20 countries and regions as well as leaders of international organizations, including the IMF.
Krishna Srinivasan, director of the IMF's Asia and Pacific Department, underscored the need for a comprehensive strategy to address problems in the property sector, including making sure that all prefinanced homes are built and property developers properly restructured, which will help revive consumer confidence and boost consumption.
Steven Barnett, senior resident representative of the IMF in China, said although the fund has revised down its GDP growth forecast for China, the country is expected to contribute roughly one-third of global growth this year and next.
According to the IMF's World Economic Outlook in October, global economic output is forecast to expand by 3 percent this year, to which China is expected to contribute 0.9 percentage point, Barnett said.
The event was organized by the IMF Resident Representative Office in China and the International Monetary Institute at the Renmin University of China.
China's near-zero inflation means it has space to ease monetary policy, and it has taken "welcome" measures to address property market difficulties that were a factor in the International Monetary Fund cutting the country's GDP growth forecast to 5 percent for 2023, IMF chief economist Pierre-Olivier Gourinchas said.
restructure struggling property developers — to make sure that there isn't any increase in financial instability," Gourinchas said on Tuesday during the annual meetings of the IMF and World Bank in Marrakech, Morocco.
"In a statement issued on Sept 26 at the conclusion of its discussion of the World Economic Outlook report, the IMF Executive Board said, "Most directors noted the risk of a further deterioration in China's property sector and, in this regard, welcomed the recent policy actions taken by the authorities.
At the IMF news conference, Gourinchas also said that China's monetary policy can "certainly" help its economy.
Worldwide, even as central banks have taken decisive action, inflation remains above target in almost all economies with an inflation target, the IMF said.
China's core inflation in the second quarter of 2023 was 0.3 percent, compared with 4.6 percent in the eurozone and 4.7 percent in the US, according to the latest IMF statistics.
To avert the likelihood of China's economy further slowing down, a downside risk to global growth, the IMF said there should be effective policy response in preserving financial stability.
Given the lack of inflationary pressure, the People's Bank of China has some room to ease," the IMF said.
The figure for next year is 0.1 percentage point lower than the IMF's July projection.
-xa0The International Monetary Fund (IMF) stated on Thursday that it maintains its expectation that China will achieve its growth target of approximately 5 percent in 2023.
However, the very recent data has been a bit more mixed, with some signs of stabilization," IMF spokesperson Julie Kozack said at a press briefing in response to a question from Xinhua.
The World Bank Group and the IMF, together with the Moroccan government, announced earlier this month that they have agreed to proceed with holding the 2023 Annual Meetings in Morocco after thoroughly assessing Marrakech's capacity to host the meetings following a devastating earthquake in the North African country.
The IMF Executive Board approved Thursday an 18-month loan for Morocco under the Resilience and Sustainability Facility, equivalent to about 1.32 billion U. S. dollars, to help Morocco address climate vulnerabilities, strengthen preparedness for natural catastrophes and stimulate financing for sustainable development.
IMF:xa0Forecast closely mirrors situation on groundThe global economic landscape has been changing continuously since the start of the year, with ups and downs predicted for various countries, but the forecast for China has remained constant since January: growing at 5.2 percent in 2023, and 4.5 percent next year.
国际货币基金组织（IMF）预测结果与实际情况紧密吻合。自今年年初以来，全球经济格局持续变化，不同国家经济增长预期起伏不定，但对中国2023年和明年的预测始终保持一致：预计2023年中国经济增长5.2%，明年则为4.5%。
Compared with projections that IMF made in April, global growth has been upgraded by 0.2 percentage point for 2023, with no change for 2024.
For China, the IMF projected in January that the country's economy would expand by 5.2 percent this year from 3 percent last year, as mobility and activity picked up after the lifting of pandemic restrictions, though it still faced significant economic challenges, including the contraction in the real estate sector.
For 2023, the forecast has been revised upward by 0.2 percentage point from the July projection, while for 2024, the forecast is down by 0.1 percentage point, according to the IMF.
The IMF noted that manufacturing activity and consumption of services in China rebounded at the beginning of the year following the easing of strict lockdown policies.
However, the IMF document noted that continued weakness in the real estate sector is weighing on investment, foreign demand remains weak as the global economy slows, and rising youth unemployment indicates labor market weakness, meaning that following a reopening boost, China's recovery is losing steam.
But the IMF also said that stronger policy support in China than currently envisioned — particularly through means-tested transfers to households — could further sustain recovery and generate positive global spillovers.
The global economy is not yet out of the woods, though the signs of progress are undeniable, said Pierre-Olivier Gourinchas, the IMF's economic counselor and its director of research.
The balance of risks to global growth remains tilted toward the downside, as inflation could remain high and even rise if further shocks occur, and financial sector turbulence could resume as markets adjust to further policy-tightening by central banks, according to the IMF.
"In general, technological decoupling is very expensive for not just Asia but also for the rest of the world," said Krishna Srinivasan, director of the IMF's Asia and Pacific Department.
In general, technological decoupling is very expensive for not just Asia but also for the rest of the world," said Krishna Srinivasan, director of the IMF's Asia and Pacific department.
The IMF estimates (the long-term cost of trade fragmentation could be as high as) 7 percent (of global GDP)," she said at the same forum on Tuesday.
The IMF estimates (long-term cost of trade fragmentation could be as high) 7 percent (of global GDP)," she told a forum on Tuesday during the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum.
Multilateral institutions led by the US, such as the World Bank, the IMF and the Inter-American Development Bank, are also its main lenders.
The IMF recently projected that the economic growth rate in the Asia Pacific region is expected to reach 4.6 percent this year, up from 3.8 percent last year.
IMF projected in its latest Regional Economic Outlook (Asia and Pacific) that China will post 5.2-percent economic growth in 2023, continuing to be the engine of global economic growth.
The IMF takes into account GDP calculated using the purchasing power parity method, while the United Nations Development Program uses the Human Development Index as the standard.
… In general, technological decoupling is very expensive for not just Asia, but for the rest of the world," said Krishna Srinivasan, director of the IMF's Asia and Pacific department.
"The biggest driver of Asia's upward growth revision this year is China, while other emerging economies in the region are on track to enjoy solid growth, though in some cases at slightly lower rates than seen last year," the IMF said in a press briefing on its latest regional economic outlook.
IMF report credits full border reopening for strong rebound, positive economic spilloverChina's full border reopening has boosted its economic growth prospects and provided a stronger momentum for near-term growth in the Asia-Pacific region, experts at the International Monetary Fund said.
In its "Regional Economic Outlook: Asia and Pacific" report released on Tuesday, the IMF stated that the Asia-Pacific region is projected to contribute 67.4 percent of the global economic growth in 2023.
The IMF also predicted that the Chinese economy will expand 5.2 percent this year, up 0.8 percentage point from its previous forecast of 4.4 percent made in October.
China's reopening has led to a strong rebound in consumption in the first quarter of 2023, and the recovery is expected to continue and be led by the services industry, according to the IMF.
During a news conference held in Hong Kong to release the report, Krishna Srinivasan, director of the IMF's Asia and Pacific Department, said the economic growth is projected to be led by consumption this year.
The IMF highlighted that China's recovery will have a positive growth spillover on the Asian economy, with the region's tourism-dependent neighbors that are heavily reliant on goods exports to the country being the main beneficiaries.
The IMF said that China needs to undertake long-term structural economic reforms in order to maintain long-term economic competitiveness.
The IMF has predicted that the Asian economy will expand 4.6 percent this year and grow 4.4 percent in 2024.
"Asia and Pacific will be the most dynamic of the world's major regions in 2023, predominantly driven by the buoyant outlook for China and India," the IMF said in its regional report.
- The fast growth of China's economy provides a welcome lift for the whole world at a time when global economic challenges are intensifying, according to experts and scholars from the International Monetary Fund (IMF) Resident Representative Office in China and the School of Finance of the Tianjin-based Nankai University.
The forum held in North China's Tianjin municipality on Friday focused on the discussion of the latest World Economic Outlook published by the IMF.
According to the IMF forecast, the world economy will grow 2.8 percent in 2023, 0.1 percentage point lower than its January forecast, while China's economic growth will improve from 3 percent in 2022 to 5.2 percent in 2023.
China's contribution to global economic growth will stand at over one third, said Steven Barnett, IMF senior resident representative in China, at the forum.
The managing director of the IMF, Kristalina Georgieva, described the global significance of China's economic recovery as extremely important.
IMF estimated that if China's economic growth rate increases by 1 percentage point, the growth rate of other countries will increase by about 0.3 percentage points, and China's contribution to the world economic growth rate this year is expected to exceed one-third.
China remains crucial to the global economy this year and will be the top contributor to global growth over the next five years, with its share set to be double that of the US, according to Bloomberg calculations based on IMF data.
The IMF, in its World Economic Outlook released on Tuesday, forecast China's growth to stay at 5.2 percent this year, a 0.8 percentage point upward revision to IMF's October projection, as it said the world is experiencing a "rocky recovery".
"We have been pleased to see this rebound of China not only for China, of course for China, but also because of China's role in the world economy," IMF Managing Director Kristalina Georgieva told a news conference on Thursday at the IMF and World Bank spring meetings that run through Sunday.
We calculated that 1 percent more growth in China translates into 0.3 percent more growth for the economies that are connected to China," the IMF chief said.
The IMF managing director also warned global policymakers not to let supply chain security precipitate a new Cold War, as security of supplies and the reliable functioning of global supply chains are taking a "new, higher priority seat" in economic discussions following the COVID-19 pandemic and amid the ongoing conflict in Ukraine.
"Krishna Srinivasan, director of the IMF's Asia and Pacific Department, noted that China's reopening will provide fresh momentum to the rest of Asia, a dynamic region that would contribute more than 70 percent to global growth this year.
"We have been pleased to see this rebound of China not only for China, but also because of China's role in the world economy," Georgieva told a press briefing on the IMF's Global Policy Agenda.
The IMF projected the Chinese economy will grow "quite strongly" by 5.2 percent this year, which is higher than China's domestic projection of 5 percent, said Georgieva.
The IMF chief recalled her recent China trip as "very very fruitful.
The IMF, in its World Economic Outlook released two days ago, forecast China's growth to stay at 5.2 percent this year, a 0.8 percentage point revision to IMF's October projection, as it said the world is experiencing a "rocky recovery".
"We have been pleased to see this rebound of China not only for China, of course for China, but also because of China's role in the world economy," IMF Managing Director Kristalina Georgieva told a news conference at the IMF and World Bank spring meetings that run through Sunday.
At the news conference, the IMF managing director warned global policymakers not to let supply chain security precipitate a new cold war, as security of supplies and the reliable functioning of global supply chains is taking a "new, higher priority seat" in economic discussions following the COVID-19 pandemic and the conflict in Ukraine.
To keep the cost lower, institutions like the IMF could help build more common understanding and trust, while policymakers need to "defend the interests of their citizens", Georgieva said.
Krishna Srinivasan, director of the IMF's Asia and Pacific Department, noted that China's reopening will provide fresh momentum to the rest of Asia, a dynamic region that would contribute more than 70 percent to global growth this year.
The IMF's forecast is close to the 2023 GDP growth target of about 5 percent set during last month's annual two sessions.
"With China absorbing about a quarter of exports from Asia and between 5 and 10 percent from other geographic regions, the reopening and growth of its economy will likely generate positive spillovers," the IMF said in the quarterly report.
The document was released at the start of the spring meetings of the IMF and World Bank in Washington that run until Sunday.
"The Chinese authorities have responded with a variety of measures, including additional monetary easing, tax relief for firms, new vaccination targets for the elderly, and measures to encourage the completion and delivery of unfinished real estate projects," the IMF said.
Globally, economic growth will bottom out at 2.8 percent this year before rising slowly to 3 percent in 2024, a lackluster pace by historical standards, as inflation is stickier than anticipated and financial risks have risen, according to the IMF.
The IMF forecast assumes that the recent financial sector stresses are contained.
Concentrated slowdown"This year's economic slowdown is concentrated in advanced economies, especially the euro area and the United Kingdom, where growth is expected to fall to 0.8 percent and -0.3 percent this year before rebounding to 1.4 and 1 percent, respectively," Pierre-Olivier Gourinchas, the IMF's economic counselor, wrote in a blog.
Gourinchas, also director of research at the IMF, noted that downside risks dominate and added that the fog around the world economic outlook has thickened.
He added that year-end core inflation will reach 5.1 percent this year, an upward revision of 0.6 percentage points from the IMF's January update.
The IMF listed faltering growth in China as one of the downside risks to the global outlook.
"A return of the world economy to the pace of economic growth that prevailed before the bevy of shocks in 2022 and the recent financial sector turmoil is increasingly elusive," the IMF said in the newly released World Economic Outlook (WEO) report.
- The International Monetary Fund (IMF) projected on Tuesday that China's economy will grow 5.2 percent in 2023 and 4.5 percent in 2024.
That's up from 3 percent last year," Pierre-Olivier Gourinchas, director of the Research Department of the IMF, told a press briefing Tuesday on the latest World Economic Outlook (WEO) report.
"As COVID-19 waves subsided (in China) in January of this year, mobility normalized, and high-frequency economic indicators, such as retail sales and travel bookings, started picking up," said the IMF in the WEO report.
According to the IMF forecast, the world economy will grow 2.8 percent in 2023, 0.1 percentage point lower than its January forecast.
"A return of the world economy to the pace of economic growth that prevailed before the bevy of shocks in 2022 and the recent financial sector turmoil is increasingly elusive," said the IMF.
The growth of advanced economies will decline by half in 2023 to 1.3 percent, before rising to 1.4 percent in 2024, said the IMF.
"With the sharp slowdown, advanced economies are expected to see higher unemployment, a rise of 0.5 percentage point on average from 2022 to 2024," said the IMF.
China and India are "two exceptions to the slowdown" that the global economy is expected to experience this year, said World Bank Group President David Malpass in a media call ahead of the IMF and World Bank Spring Meetings week.
But others face a steeper climb," said Managing Director of the IMF Kristalina Georgieva at a recent event in Washington D. C.
IMF research shows that the long-term cost of trade fragmentation could be as high as 7 percent of global GDP — roughly equivalent to the combined annual output of Germany and Japan, she said.
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