Current location:World Watch news portal > opinions
‘Robust' US has helped improve global economic outlook, IMF chief says
World Watch news portal2024-04-30 18:09:59【opinions】9People have gathered around
IntroductionWashington —Strong growth in the United States has helped to lift the outlook for the world economy,
Strong growth in the United States has helped to lift the outlook for the world economy, but more needs to be done to stem a slide in productivity, the head of the IMF said Thursday.
"Global growth is marginally stronger on account of robust activity in the United States and in many emerging markets economies," International Monetary Fund Managing Director Kristalina Georgieva told reporters in prepared remarks.
The U.S. economy grew by 2.5 percent last year, according to the U.S. Commerce Department, far outstripping most other advanced economies.
"Robust household consumption and business investment, and an easing of supply chain problems helped," Georgieva added. "And inflation is going down, somewhat faster than previously expected."
She spoke just a few days before the IMF-World Bank spring meetings of world financial leaders in Washington, one of two such gatherings hosted each year by the international financial institutions.
Her remarks suggest the IMF now expects the world economy to grow faster than it predicted in January, when it forecast global growth to rise by 3.1 percent in 2024, and 3.2 percent in 2025.
"It is tempting to breathe a sigh of relief. We have avoided a global recession and a period of stagflation — as some had predicted," Georgieva said. "But there are still plenty of things to worry about."
Among the challenges, Georgieva mentioned rising geopolitical tension, which, she said, is increasing the risks of fragmentation of the global economy.
She also highlighted the challenges of growing public debt and a "broad-based slowdown in productivity."
Because of this, the IMF expects growth to remain at just above 3 percent over the medium term — below its historical average.
To help the global economy to heal and fix the productivity challenge, Georgieva laid out a series of steps to bring global inflation and public debt back down to sustainable levels, and also called for steps to eliminate "constraints to economic activity" and boost productivity.
"In short, if there is a market failure that is being addressed — such as accelerating innovation to address the existential threat of climate change — there is a case for government intervention, including through industrial policy," she said.
"If there is no market failure, there is a need for caution," she added.
Address of this article:http://gabon.esherfc.com/news-91f699900.html
Very good!(446)
Related articles
- Russell Brand announces plan to be baptised as it's 'an opportunity to leave the past behind'
- 'Ministry of Ungentlemanly Warfare' review: Guy Ritchie amps up WWII heist
- PSG loanee Ekitiké scores winner as Eintracht Frankfurt beats Augsburg
- Florida law discriminates against Chinese nationals trying to buy homes, attorneys argue
- King and Queen jet back to London for public
- I'm a neurologist
- The Florida Panthers are weird. And coach Paul Maurice says that as a compliment
- Florida law discriminates against Chinese nationals trying to buy homes, attorneys argue
- At least 40 people die in Kenya after dam collapses
- Next UN climate talks are critical to plot aid for poorer nations, says incoming president
Popular articles
- 50 migrants reported missing and 9 rescued after their boat overturns off Spanish Atlantic island
- Prosecutor won't bring charges against Wisconsin lawmaker over fundraising scheme
- Bilbao and Granada left wanting more in tight
- New York Rangers captain Jacob Trouba may be the most interesting man in hockey, on and off the ice
Recommended
Deepfake of principal's voice is the latest case of AI being used for harm
Spain's Ebro
Nebraska's governor says he'll call lawmakers back to address tax relief
Idaho group explores ballot initiative for abortion rights, reproductive care
Rubiales denies wrongdoing when questioned in probe into Saudi Arabia deal for Spanish Super Cup
FAU hires Isaiah Austin, whose NBA playing plans were derailed, as an assistant coach
Wondrous Xinjiang: Xinjiang's mobile bazaar blooms ahead
'The Full English will never die out!' Greasy spoon fans speak up for the Great British Fry
Links
- Chinese experts showcase new seed varieties, technology at Uganda agricultural exhibition
- Keanu Reeves and longtime girlfriend Alexandra Grant put on a loved
- Chinese scientists develop new method of plastic recycling
- Shirley MacLaine has a laugh with friends while enjoying lunch in Malibu
- Lithuania's Mykolas Alekna breaks discus throw record that stood since 1986
- Central gov't appoints veteran diplomat as new commissioner of Chinese FM in Hong Kong
- What key recent events led to Iran's assault on Israel?
- Spring outing popular among Chinese people: survey
- Xi Jinping meets Ma Ying
- Boston reliever Kenley Jansen says slick baseballs hard to control