IMF Downgrades its Growth Forecast for Asia, says Covid Still ‘Ravaging’ the Region

Countercurrents | October 25, 2021

The International Monetary Fund (IMF) on Tuesday downgraded its 2021 economic growth forecast for Asia after the Covid-19 delta variant caused a spike in cases in parts of the region.

The IMF said it expects Asia’s economy to grow by 6.5% in 2021, compared with its April forecast for a 7.6% expansion.

“The global COVID-19 pandemic is still ravaging the region,” the fund said in its Regional Economic Outlook report for Asia and the Pacific.

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