Omicron variant likely to usher growth downgrades -IMF's Georgieva

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Omicron variant likely to usher growth downgrades -IMF's Georgieva
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Global economic growth projections from the International Monetary Fund will likely be downgraded due to the emergence of the Omicron variant of the coronavirus, IMF Managing Director Kristalina Georgieva said on Friday.

"A new variant that may spread very rapidly can dent confidence, and in that sense, we are likely to see some downgrades of our October projections for global growth," Georgieva said during the Reuters Next conference.

"We do believe that the path to policy rate increases may be walked faster," she said, pointing to 2022 as a likely target. "It is not a silver bullet. There has to be action on all these fronts, so we can see the issue of inflation being contained."

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