IMF cuts 2021 growth forecast for Asia-Pacific to 6.5% on COVID-19 resurgence, global supply disruptions
Updated: 2021-10-20 13:43:48 KST
The International Monetary Fund has revised down this year's economic growth forecast for the Asia-Pacific region to 6.5 percent.
That's down 1.1 percentage points from its projection in April.
The IMF said the resurgence of COVID-19 when vaccination rates were low hurt the region's recovery, especially in developing economies.
South Korea's growth is estimated at 4.3 percent, which is an increase from the April forecast.
But the IMF warned of downside risks including a resurgence of the virus, disruptions in the global supply chain and inflation pressure.