The IMF’s managing director has warned that the global economy is facing years of slow growth, with medium-term prospects their weakest in more than 30 years.
Speaking in Washington ahead of the World Bank and IMF spring meetings next week, Kristalina Georgieva said the world economy would expand at an average annual rate of around 3 per cent over the next five years.
The figure is well below the average 3.8 per cent forecast of the past two decades and marks the weakest projection for medium-term growth since 1990.
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