A slowdown in the pace of trade reform since the early 2000s, a post-crisis uptick in protectionism, and the risk of further reversals have weakened trade, productivity, and income growth in the global economy, a joint report by the International Monetary Fund, the World Bank and the World Trade Organization warned on Monday. more...
The World Bank trimmed its global growth outlook, citing anemic recovery in major emerging markets, although it suggested that overall growth will improve from last year, underpinned by advanced economies. Global economic growth is forecast to be 2.9 percent this year, instead of the 3.3 percent projected in June, the Washington-based lender said in its bi-annual Global Economic Prospects. "There is greater divergence in performance among ...
The World Bank downgraded its global growth outlook, as developing countries face tough transition with high borrowing costs and lower commodity prices in 2015. The organization also urged the Federal Reserve to hold off raising rates until the next year, citing the risks it may pose to emerging markets. "Developing countries were an engine of global growth following the financial crisis, but now they face a more difficult economic environment," ...
Despite an uptick in developing countries and strong momentum in the United States, the World Bank downgraded its global economic forecast citing weak prospects for the euro area and Japan. In its biannual report 'Global Economic Prospects' released Tuesday, the World Bank said global gross domestic product is expected to grow 3 percent in 2015, slower than the 3.4 percent estimated in June. For 2016, the economy is projected ...
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