World Economic Outlook -- WEB
Metadata
- World Economic Outlook -- WEB
- April 20, 2022
- The International Monetary Fund on Tuesday slashed its forecast for global economic growth to 3.6% this year, saying Russia's war in Ukraine threatens a fragile recovery from disruptions caused by the pandemic. White House Bureau Chief Patsy Widakuswara has this report.
- Content Type Package
- Language English
- Transcript/Script English WORLD ECON OUTLOOK (TV) HEADLINE: IMF: Russia-Ukraine War Slowing Global Economic Recovery TEASER: IMF slashed its global growth forecast from 4.4% to 3.6%; World Bank, from 4.1% to 3.2% PUBLISHED AT: 4/19/2022, 9:05p BYLINE: Patsy Widakuswara CONTRIBUTOR: DATELINE: Washington VIDEOGRAPHER: VIDEO EDITOR: PRODUCER: SCRIPT EDITORS: Bowman, Holly Franko, DJ OK VIDEO SOURCE (S): AP, AFP, Skype PLATFORMS (mark with X): WEB __ TV _x_ RADIO __ TRT: 2:34 VID APPROVED BY: Reifenrath TYPE: TV EDITOR NOTES: Radio track included.) ((INTRO:)) [[The International Monetary Fund on Tuesday slashed its forecast for global economic growth to 3.6% this year, saying Russia's war in Ukraine threatens a fragile recovery from disruptions caused by the pandemic. White House Bureau Chief Patsy Widakuswara has this report.]] ((NARRATOR)) Russia's war in Ukraine and Western sanctions against Moscow have disrupted global commerce, pushed up oil prices, threatened food supplies and increased uncertainty as the world struggles to recover from the pandemic, ((MANDATORY COURTESY: UN)) ((NARRATOR)) causing the International Monetary Fund to downgrade its global economic outlook. ((Radio track: IMF Chief Economist, Pierre-Olivier Gourinchas)) ((MANDATORY COURTESY: IMF)) ((Pierre-Olivier Gourinchas, IMF Chief Economist)) “Even before the war, inflation in many countries had been rising due to supply demand imbalances and policy support during the pandemic, prompting a tightening of monetary policy.” ((NARRATOR)) The IMF slashed its global growth forecast from 4.4 percent to 3.6 percent; the World Bank, from 4.1 percent to 3.2 percent. ((NARRATOR)) Increased energy and commodity prices have led to less output and more inflation. The White House is blaming Moscow. ((Radio track: White House press secretary Jen Psaki)) ((MANDATORY COURTESY: The White House)) “We've said this from the beginning that the invasion of Ukraine by President Putin and Russia is going to have a continued impact on the global economy, whether it is on the oil markets or other areas.” ((NARRATOR)) Add to that, a slowing of the Chinese economy due to frequent lockdowns caused by the omicron variant of the coronavirus. ((Radio track: Diana Furchtgott-Roth, adjunct professor of economics at George Washington University, via Skype)) ((Diana Furchtgott-Roth, George Washington University)) ((Skype)) “First of all, China has imposed a quarantine of one week on goods that come into China, that means that manufacturers that use chips from other places such as South Korea are not getting the inputs they need to make the goods in China. Second, there's congestion at the ports because of the lockdown, such as Hong Kong and Shanghai.” ((MANDATORY COURTESY: UN)) ((NARRATOR)) A key goal for central bankers attending the spring meetings of the IMF and World Bank in Washington, ((NARRATOR)) is to curb inflation without sending the world into recession – by gradually increasing interest rates, preferably in a coordinated way. ((Radio track: Desmond Lachman, senior fellow at the American Enterprise Institute and former deputy director at IMF’s Policy Development and Review Department, via Skype.)) ((Desmond Lachman, American Enterprise Institute)) ((Skype)) “That would prevent inflation from spilling over from one place to the other. But it's a delicate task because we do have equity markets that are very buoyant, we've got housing markets that are very buoyant. So this is not going to be easy, to raise interest rates in a way that will bring down inflation without producing a recession. They’ve probably let inflation get too far ahead of them for them to engineer a soft landing at this stage.” ((NARRATOR)) Amid Western efforts to isolate Russian President Vladimir Putin, ((NARRATOR)) coordination may prove challenging. The U.S. is skipping some of the group of twenty – G-20 – finance ministers’ meetings this week, ((NARRATOR)) to protest Moscow’s participation in the group over its actions in Ukraine. Patsy Widakuswara, VOA News, Washington.
- Transcript/Script WORLD ECON OUTLOOK (TV) HEADLINE: IMF: Russia-Ukraine War Slowing Global Economic Recovery TEASER: IMF slashed its global growth forecast from 4.4% to 3.6%; World Bank, from 4.1% to 3.2% PUBLISHED AT: 4/19/2022, 9:05p BYLINE: Patsy Widakuswara CONTRIBUTOR: DATELINE: Washington VIDEOGRAPHER: VIDEO EDITOR: PRODUCER: SCRIPT EDITORS: Bowman, Holly Franko, DJ OK VIDEO SOURCE (S): AP, AFP, Skype PLATFORMS (mark with X): WEB __ TV _x_ RADIO __ TRT: 2:34 VID APPROVED BY: Reifenrath TYPE: TV EDITOR NOTES: Radio track included.) ((INTRO:)) [[The International Monetary Fund on Tuesday slashed its forecast for global economic growth to 3.6% this year, saying Russia's war in Ukraine threatens a fragile recovery from disruptions caused by the pandemic. White House Bureau Chief Patsy Widakuswara has this report.]] ((NARRATOR)) Russia's war in Ukraine and Western sanctions against Moscow have disrupted global commerce, pushed up oil prices, threatened food supplies and increased uncertainty as the world struggles to recover from the pandemic, ((MANDATORY COURTESY: UN)) ((NARRATOR)) causing the International Monetary Fund to downgrade its global economic outlook. ((Radio track: IMF Chief Economist, Pierre-Olivier Gourinchas)) ((MANDATORY COURTESY: IMF)) ((Pierre-Olivier Gourinchas, IMF Chief Economist)) “Even before the war, inflation in many countries had been rising due to supply demand imbalances and policy support during the pandemic, prompting a tightening of monetary policy.” ((NARRATOR)) The IMF slashed its global growth forecast from 4.4 percent to 3.6 percent; the World Bank, from 4.1 percent to 3.2 percent. ((NARRATOR)) Increased energy and commodity prices have led to less output and more inflation. The White House is blaming Moscow. ((Radio track: White House press secretary Jen Psaki)) ((MANDATORY COURTESY: The White House)) “We've said this from the beginning that the invasion of Ukraine by President Putin and Russia is going to have a continued impact on the global economy, whether it is on the oil markets or other areas.” ((NARRATOR)) Add to that, a slowing of the Chinese economy due to frequent lockdowns caused by the omicron variant of the coronavirus. ((Radio track: Diana Furchtgott-Roth, adjunct professor of economics at George Washington University, via Skype)) ((Diana Furchtgott-Roth, George Washington University)) ((Skype)) “First of all, China has imposed a quarantine of one week on goods that come into China, that means that manufacturers that use chips from other places such as South Korea are not getting the inputs they need to make the goods in China. Second, there's congestion at the ports because of the lockdown, such as Hong Kong and Shanghai.” ((MANDATORY COURTESY: UN)) ((NARRATOR)) A key goal for central bankers attending the spring meetings of the IMF and World Bank in Washington, ((NARRATOR)) is to curb inflation without sending the world into recession – by gradually increasing interest rates, preferably in a coordinated way. ((Radio track: Desmond Lachman, senior fellow at the American Enterprise Institute and former deputy director at IMF’s Policy Development and Review Department, via Skype.)) ((Desmond Lachman, American Enterprise Institute)) ((Skype)) “That would prevent inflation from spilling over from one place to the other. But it's a delicate task because we do have equity markets that are very buoyant, we've got housing markets that are very buoyant. So this is not going to be easy, to raise interest rates in a way that will bring down inflation without producing a recession. They’ve probably let inflation get too far ahead of them for them to engineer a soft landing at this stage.” ((NARRATOR)) Amid Western efforts to isolate Russian President Vladimir Putin, ((NARRATOR)) coordination may prove challenging. The U.S. is skipping some of the group of twenty – G-20 – finance ministers’ meetings this week, ((NARRATOR)) to protest Moscow’s participation in the group over its actions in Ukraine. Patsy Widakuswara, VOA News, Washington.
- NewsML Media Topics Economy, Business and Finance
- Topic Tags Economy
- Network VOA
- Embargo Date April 20, 2022 15:51 EDT
- Description English The International Monetary Fund on Tuesday slashed its forecast for global economic growth to 3.6% this year, saying Russia's war in Ukraine threatens a fragile recovery from disruptions caused by the pandemic. White House Bureau Chief Patsy Widakuswara has this report.
- Brand / Language Service Voice of America