IMF warns of rising risks to global economy ...News

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IMF warns of rising risks to global economy
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Mounting trade restrictions will hit open-market economies most of all, according to the report The deepening cost-of-living crisis, high levels of debt, and geopolitical tensions across the world could cost the global economy up to 7% of GDP, the International Monetary Fund (IMF) has warned. According to its report issued on Sunday, the rising trade restrictions could result in what it calls “geoeconomic fragmentation.” The longer-term cost of trade fragmentation varies from 0.2% of global output to almost 7%, which is roughly the combined annual output of Germany and Japan, the IMF said. “If technological decoup

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