The global recovery has stalled again as confidence in policymakers’ ability to provide conditions for growth has slipped away, according to the latest FT/Brookings Institution Tiger index of world economic conditions.
Professor Eswar Prasad of Brookings said: “The global economic recovery is being held hostage by political brinkmanship that has created policy paralysis, undermined confidence and stymied the effectiveness of macroeconomic policy tools.”
As leaders of the most powerful economies gather today in Los Cabos, Mexico, expectations are low that the G20, billed as the “premier economic forum”, will offer co-ordinated action rather than hot air.
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