• SHARE

It’s become a dreary ritual. Every six months, the International Monetary Fund (IMF) forecasts the global economy — and cuts its previous forecast. Despite an army of economists, all of its forecasts since 2011 have been too optimistic. The latest, released last week, shaved 0.4 percentage points off the growth estimate made in April.

The world economy is now expected to expand only 3.3 percent in 2014, down from a respectable 5.4 percent in 2010. The feeble growth raises the specter of a global recession.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW