FILE PHOTO: A participant stands near a logo of IMF at the International Monetary Fund - REUTERS/Johannes P. Christo
TOKYO: The International Monetary Fund cut Asia's economic growth forecasts on Tuesday, with rising inflation forcing many central banks to tighten monetary policy even as exports face the brunt of slowing growth in trade partners such as the United States.
The downgrade underscores heightening uncertainty over Asia's recovery from the COVID-19 pandemic as darkening growth prospects for the United States, China and the euro zone economies stoke fear of a global recession.
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