The International Monetary Fund trimmed its forecast for global growth this year and next by just 0.1 percentage points to 2.8 percent and 3 percent, respectively, in its April 2023 World Economic Outlook (WEO). On the surface, this suggests that not much has changed since the fund’s last update in January, but a closer reading of the report tells a different story. Indeed, the IMF warned that over the medium term, global growth is likely to be the weakest in more than 40 years as tighter financial conditions and high levels of indebtedness have risen.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Miftah calls on his British counterpart

On Wednesday, Federal Minister for Finance and Revenue Miftah Ismail met British…

Egypt’s El Sisi rules out currency devaluation

President Abdel Fattah El Sisi ruled out another devaluation of Egypt’s embattled…

Turkish lira slips down amidst surging inflation

Istanbul: It emerged on Monday that the lira slid as much as…

Alibaba chief makes rare public appearance

Jack Ma, the founder of tech giant Alibaba, made a rare public…