Global economy heading for weakest growth since 1990, says IMF boss:
Kristalina Georgieva says slowdown last year after Covid pandemic and Russian invasion of ...
theguardian.com/business/2023/apr/06/global-economy-weakest-growth-since-1990-imf-kristalina-georgieva
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Global Economy Faces Slowest Growth Since 1990Growth is expected to stay near 3% for the next five years amid inflation, high borrowing costs, and geopolitical tensions.
Key FactsApr 6, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: theguardian.com
Summary created with AI assistance · Source: theguardian.com
- Higher interest rates and geopolitical conflicts have led to the weakest global growth period since 1990.
- Global growth dropped from 6.1% in 2021 to 3.4% in 2022 and is forecasted to fall below 3% in 2023.
- About 90% of advanced economies, including the US and eurozone, will experience slower growth this year.
- Despite challenges, continuing to raise interest rates to combat inflation while supporting banks remains crucial.
There cannot be robust growth without price stability – nor without financial stability.— Kristalina Georgieva, the managing director of the International Monetary Fund, stated this in the context of current economic challenges.
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