According to Reuters, International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated in her prepared remarks. On Thursday that the global economy will grow by less than 3% in 2023, down from 3.4% in 2024.”In 2023, 90% of advanced economies will see growth slow; India and China will account for half of global growth.”
“The International Monetary Fund expects global growth to remain around 3% over the next five years. The lowest medium-term growth forecast since 1990.”
“Recent banking sector pressures exposed risk management failures and supervisory lapses at specific banks.”
“With rising geopolitical tensions and still-high inflation, a robust recovery remains elusive.”
“Central banks should maintain a tight stance to combat inflation and address financial stability risks as they arise.”
“Calls for significant increases in renewable energy spending.” sustained global trade and supply chain diversification.”
“Countries should reduce budget deficits further while assisting the most vulnerable in order to maintain social cohesion.”
“Banks are generally stronger and more resilient than they were during the 2008 financial crisis,” says the report, “but there are concerns about hidden vulnerabilities.”
“The message to monetary policymakers is to be more vigilant and agile than ever.”
IMF statement reaction on Market
The US Dollar Index did not respond immediately to these remarks, and was last observed increasing 0.2% on a daily basis at 102.10.
