inflation and high interest rates, and banking instability have contributed to this year s gloomy economic forecast stock but it is a global recession is not likely stop business reporter katie silver has been looking into this story for us and joins me now on the programme with the details. great to get you on the show. talk through what you have seen today. 50 talk through what you have seen toda . ~ ., , talk through what you have seen toda . ~ .,, , today. so the imf has seen it has been today. so the imf has seen it has been a today. so the imf has seen it has been a perilous - today. so the imf has seen it i has been a perilous combination of vulnerabilities and they are calling on central banks around the world to keep monetary policy tight and that means high interest rates in order to stave off dental economic crisis or a decrease in economic growth. so the fund has revised their forecast for this year and next, lowering both from what was predicted in january by
a distinction here, what i - ahead. i think we need to make a distinction here, what i was . a distinction here, what i was talking about was the growth projection for 2023, where we had earlier 4.4% and now we have 5.2%. and one factor to note is every time china s growth goes up by one percentage point, the rest of asia goes zero and three percentage points over the medium term. that said, we have lowered our forecast for growth in china over the medium term below 4%, so that is what really she was talking about, but of course you also have countries like india, which are going pretty fast at five x 9% in 2023 going pretty fast at five x 9% in 2023 growing. we need to discuss the short term fillip to the medium term headwinds in asia. i to the medium-term headwinds in asia. ~ ., , to the medium-term headwinds in asia. ~ . , ., ., , asia. i think that is a really aood asia. i think that is a really good point- asia. i think that is a really good point. just asia. i think that