IMF cuts Asia's growth forecast, warns of supply chain risks

The International Monetary Fund has slashed this year's economic growth forecast for Asia and warned that supply chain disruptions and inflation pressures pose downside risks.

The International Monetary Fund on Tuesday slashed this year's economic growth forecast for Asia and warned that a fresh wave of Covid-19 infections, supply chain disruptions and inflation pressures pose downside risks to the outlook.

China's economy will grow by 8.0% this year and 5.6% in 2022, but the recovery remains "unbalanced" as repeated coronavirus outbreaks and fiscal tightening weigh on consumption, it said.