IMF says global ‘soft landing’ in sight, lifts 2024 growth outlook.

Syllabus: GS-III

Subject: Economy

Topic: Indices and reports

Issue:  World Economic Outlook

Context: Latest “World Economic Outlook” report released by IMF.

Synopsis:

  • The combination of steady growth and falling inflation has raised hopes for a so-called soft landing for the global economy (soft landing is a slowdown sufficient to contain inflation without causing a recession).
  • Raised India’s growth projection to 6.7% in FY24 due to “resilient domestic demand”.
International Monetary Fund(IMF)

●     Is an international financial institution established in 1944.

●     Objectives: To promote international monetary cooperation, exchange rate stability, balanced trade growth, and financial stability.

●     Reports by IMF

○     World Economic Outlook

○     Global Financial Stability Report

Fiscal Monitor

 

 

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