The updated estimation reportedly follows China’s efforts to brace its economy after the property market debacle. In its press statement, the IMF said: First, we project China’s economy to grow by 5 percent in 2024 and 4.5 percent in 2025. These reflect upward revisions of 0.4 percentage points for both the years compared to the…
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IMF Chief Economist Pierre-Olivier Gourinchas highlighted the updated World Economic Outlook, indicating that the global economy is approaching a 'soft landing' phase. However, he cautioned that while inflation is steadily declining and growth is maintained, the expansion's pace remains slow, and potential challenges lie ahead. The IMF's optimism is bolstered by increased public and private…
Read moreThe head of the International Monetary Fund (IMF), Christine Lagarde, must stand trial in France over a payment of €403 million (now £340m, then £290m) to tycoon Bernard Tapie. Mr Tapie, a former French football team owner, won €403 million in 2008 in a case against the French public bank Crédit Lyonnais, after he said…
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