The World Bank said that tighter monetary policies from central banks around the world may have been necessary to tame inflation, but they have \u201ccontributed to a significant worsening of global financial conditions, which is exerting a substantial drag on activity.\u201d<\/p>\n\n\n\n
\u201cThe United States, the euro area, and China are all undergoing a period of pronounced weakness, and the resulting spillovers are exacerbating other headwinds faced by emerging market and developing economies,\u201d it said.<\/p>\n\n\n\n
The global financial organization adjusted its 2024 forecasts lower as well, to 2.7% from an earlier prediction of 3% growth.<\/p>\n\n\n\n
A faster-than-expected China reopening poses great uncertainty for its economic recovery, the World Bank said in its report.<\/p>\n\n\n\n
\u201cThe economic recovery [in China] may be delayed if reopening results in major outbreaks that overburden the health sector and sap confidence,\u201d the report said. \u201cThere is significant uncertainty about the trajectory of the pandemic and how households, businesses, and policy makers in China will respond.\u201d<\/p>\n\n\n\n
Manager\u2019s Office Team<\/strong><\/p>","protected":false},"excerpt":{"rendered":" The World Bank said that tighter monetary policies from central banks around the world may have been necessary to tame…<\/p>","protected":false},"author":3,"featured_media":11895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[189,153],"tags":[],"yoast_head":"\n