"Challenges Mount for Global Economy Amid Inflation, Pandemic and War"
TL;DR Summary
The World Bank has warned that the global economy is slowing down due to higher interest rates affecting both advanced and developing economies. The bank has projected that global growth will slump to an anemic 2.1 percent annual rate this year, down from 3.1 percent in 2022, and will remain “frail” through next year. Investors are now focused on how much more work the Federal Reserve and European Central Bank must do to stem inflation, which has declined from last year’s highs but remains elevated.
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- Hobbled Economic Prospects in Central Asia – The Diplomat The Diplomat
- Global growth will remain weak into 2024, World Bank says CNBC International TV
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