Global economy to expand by 3.2% in 2024 – IMF
The global economy remains remarkably resilient, with growth holding steady as inflation returns to target. According to the April 2024 World Economic Outlook (WEO) Report by the International Monetary Fund, the journey has been eventful, starting with supply-chain disruptions in the aftermath of the pandemic, a Russian-initiated war on Ukraine that triggered a global energy and food crisis, and a considerable surge in inflation, followed by a globally synchronized monetary policy tightening. “Yet, despite many gloomy predictions, the world avoided a recession, the banking system proved largely resilient, and major emerging market economies did not suffer sudden stops. Moreover, the...
