IMF warns of weak global growth, vulnerable shadow banks, and U.S-China tensions.
TL;DR
The global economy is set for years of weak growth, according to the International Monetary Fund's Managing Director, Kristalina Georgieva. She warned that the pandemic has caused a "long-lasting" hit to the world's economic output and that the recovery will be "long, uneven and uncertain". Georgieva also called for continued government support to prevent further damage to the economy.
- Global economy set for years of weak growth, IMF's Georgieva warns Financial Times
- IMF says U.S-China tensions could cost the world about 2% of its output CNBC
- The IMF warns that shadow banks that hold nearly 50% of global assets are vulnerable as central banks raise rates to tackle inflation Fortune
- IMF head expects less than 3% global economic growth in 2023 The Associated Press
- 'Friendshoring' Could Have Some Not-So-Friendly Downsides Investopedia
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