IMF Warns on Balance of Risks Facing Hong Kong's Economy [Business News Network (BNN) (Canada)]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: Business News Network
Risks to the economy include ongoing uncertainty linked to the pandemic, which could impact the flow of people and further weigh on consumption, the IMF said in its report. The Washington-based lender is forecasting economic growth to slow to 3% this year from an estimated 6.4% in 2021. Economists have started downgrading their forecasts for Hong Kong as strict virus control measures, including travel bans, curb tourism and retail spending in the city. Citigroup Inc. also warned this week of rising prices and possibly shortages of some goods this year as airlines slash cargo flights into the hub. Other downside risks highlighted by the IMF include a slower-than-expected global recovery, continued disruption of global supply chains and de-globalization and decoupling that could reduce the flow of goods and derail the recovery, according to the IMF report. “A sharp rise in global risk premia, a disorderly tightening in the monetary policy of major advanced economies, large housin
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