Asian nations face 'stagflationary outlook'

WASHINGTON, D.C.: Asian nations, like the rest of the world, are being battered by countervailing forces, like Russia's invasion of Ukraine, which are raising prices while holding back growth, the International Monetary Fund (IMF) said on Monday (Tuesday in Manila).

"The region faces a stagflationary outlook, with growth being lower than previously expected and inflation being higher," said Anne-Marie Gulde-Wolf, acting director of the IMF's Asia and Pacific Department.