WASHINGTON: The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability. 'Growth remains historically weak now and
WASHINGTON: The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability.
Close to 90 per cent of the world's advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in the economic output - with India and China predicted to account for half of all growth, she said. "We don't envisage, at this point, central banks stepping back from fighting inflation," she said during an interview on Thursday.
Many low-income countries are now facing mounting debt burdens due in part to the higher interest-rate environment.The spring meeting also provides an opportunity to make progress on an ambitious US-backed agenda to reform the World Bank so it is better prepared to tackle long-term issues like climate change.
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