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Weaker growth amid Brexit, trade uncertainty: World Bank

14
Oct '19
Pic: Shutterstock
Pic: Shutterstock
The global economic outlook is deteriorating amid Brexit-related uncertainty, trade tensions and a downturn in Europe, World Bank president David Malpass recently said in Montreal. Ahead of the International Monetary Fund (IMF) and World Bank annual meetings, he said the world economy now looks even weaker than its June forecast for 2.6 per cent growth in 2019.

Malpass repeated his criticism of the roughly $15 trillion of bonds with zero or negative yields, describing it as ‘frozen capital’ that is diverting resources from growth and benefiting bondholders and issuers of the debt.

The IMF has also indicated it may lower its 2019 outlook after the fund in July projected 3.2 per cent growth, the lowest since the financial crisis. The IMF is scheduled to release its updated forecast this week.

Fibre2Fashion News Desk (DS)


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