IMF World Economic Outlook Highlights

ID

619907

SHOOT DATE

26 Jul 2022

SHOOT LOCATION

WASHINGTON DC, United States

PRODUCTION COMPANY

IMF

DESCRIPTION
IMF World Economic Outlook Highlights
SHOTLIST
Washington, DC – Recent
1. B-ROLL: Various of IMF exteriors with Spring Meetings 2022 signage

Washington, DC – Tuesday 26 July 2022
2. Wideshot of studio news conference
3. Soundbite (English) IMF Director of Research Department Pierre-Olivier Gourinchas
“The outlook has darkened significantly since April. The world may soon be teetering on the edge of a global recession, only two years after the last one. Multilateral cooperation will be key in many areas from climate transition and pandemic preparedness to food security and debt distress. Amid great challenge and strife, strengthening cooperation remains the best way to improve economic prospects for all and mitigate the risk of geo-economic fragmentation.”
4. Cutaway Reporter online
5. Soundbite (English) IMF Director of Research Department Pierre-Olivier Gourinchas:
“In particular, a full shutdown of Russian gas flows to Europe or inflation pressures remaining more elevated than they've, they've been in the past. And we've been repeatedly surprised by the persistence and the broadening of inflation in recent times, and also an increase in financial tightening around the world. And so if you put all these things together, then we get a global economy as I mentioned in my remarks, that gets close to 2% in 2023, where we think really a lot of the vulnerabilities are where you have a lot of slowdown happening. And so 2% is really a sort of a low number for the global economy. That's a sense in which we're getting close, really close to a global recession.”
6. Cutaway Global growth graphic
7. Soundbite (English) IMF Director of Research Department Pierre-Olivier Gourinchas:
“What is really important here is that in a sense there is one overwhelming priority at this point, and it is to bring back price stability in advanced economies and in emerging markets as well, that many of them have seen elevated price pressure. And whether we are in the baseline or whether we are in the alternative scenario. And in the alternative scenario, inflation pressures are pushing even higher and there's even more of a need for central banks and policymakers to really address that issue. And this is really critical because it's really necessary to plant the seed for future macroeconomic stability. A stable macroeconomic environment in the future requires that we bring down inflation in the coming year, year-and-a-half.”
8. Cutaway global inflation graphic
9. Soundbite (English) IMF Director of Research Department Pierre-Olivier Gourinchas:
“The current environment suggests that the likelihood that the US economy can avoid a recession is actually quite, quite narrow. Under our current projections, for instance for the US the quarter... Q4 on Q4 growth rate in 2023 is only 0.6%. And 0.6%, that's under our baseline. So you see that a small shock at this point could be enough to sort of knock off the US economy of a fairly low number and sort of tilt it over into recession. So it's a very narrow, it's a very narrow path at this point.”

Washington, DC – Recent
10. B-ROLL: Various of IMF exteriors with Spring Meetings 2022 signage
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