Global economic growth will remain below 3 percent in 2023 and for the next five years, according to Kristalina Georgieva, the managing director at the International Monetary Fund (IMF).
With elevated price inflation persisting throughout the world economy and to achieve the goal of restoring price stability, Georgieva purported that central banks would need to keep raising interest rates and leaving them higher for longer, which will weigh on growth prospects.
“And what is more concerning is that it would remain around 3 percent for the next five years,” she said in a conversation with World Bank Group President David Malpass at a joint IMF-World Bank event on April 10….