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World Bank Describes Global Growth This Year as ‘Disappointing’

Posted September 25, 2014

Under Economic Issues, International Trade Issues

(MercoPress)

Global growth had been “disappointing” this year, according to World Bank president Dr Jim Yong Kim, who counted Europe’s woes, reforms in Japan, and the impact of U.S. monetary policy on emerging markets, among the world’s greatest economic challenges.

Speaking in Sydney en route to the G20 finance ministers’ meeting in Cairns at the weekend, Dr Kim said there was still a lot of uncertainty and geopolitical risk holding back Europe’s recovery, while emerging market growth had slowed as U.S. preparations for lifting interest rates drew capital away from countries such as Brazil.

“At one point our projections were as high as 3.2% for growth globally, and now they’re around 2.7%,” he said. Read more here.