The International Monetary Fund (IMF) warned on Monday that emerging economies should prepare for “potential bouts of economic turbulence” as the U.S. Federal Reserve prepares to raise interest rates in an attempt to combat inflation.
Citing the disruptions caused by the now surging omicron variant, IMF economists noted that although the global economic recovery from the coronavirus pandemic should continue this year and next, “risks to growth remain elevated by the stubbornly resurgent pandemic.”
Although omicron appears to cause less severe disease and death than previous variants, its spread has continued to spook governments and has led to the reinstitution of mandates and restrictions which have been shown to hamper economic...
