Sunday , July 5 2020

Singapore growth to remain weak amid global risks: IMF

Bloomberg

Singapore’s economic growth will likely remain weak, weighed down by subdued global demand and a downturn in the electronics cycle, according to the International Monetary Fund (IMF).
Across the region, uncertainty about US-China trade tensions and oil prices remain the biggest risks, Jonathan Ostry, deputy director of the Asia Pacific department, said at a joint conference hosted by the IMF and the Monetary Authority of Singapore. The IMF lowered Singapore’s growth forecast for this year to 0.5% and estimates expansion of 1% in 2020.
Asian policy makers have pragmatically come up with instruments, frameworks to deal with foreign exchange and capital flow volatility.

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