DEVELOPMENT NEWS OPMENT NEWS
Dr Alkhalifa met with representatives o the Black Sea T
the Black Sea Trade and Development Bank, including Secretary General Aristotelis Spiliotis and President y Pankin, to discuss further
Bank, including Secretary General Aristotelis Spiliotis and President Dmitry Pankin, to discuss fur development cooperation.
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THE CONTEXT
While the Annual Meetings serve as an opportunity to discuss the progress of the World Bank Group and the IMF, other featured events include regional briefings, press conferences, and fora focused on the global economy, international development, and the world’s financial markets. Some of this year’s highlights included:
Growth rebound in 2020 4.6%
for emerging market and developing economies
Photo: Roman Babakin /
Shutterstock.com
2019 World Economic Outlook press briefing The IMF’s Chief Economist Gita Gopinath explained to a crowded conference hall that the global economy is in a synchronized slowdown and that growth for 2019 has been downgraded to 3 percent – its slowest pace since the global financial crisis. Gopinath said that growth continues to be weakened by rising trade barriers and increasing geopolitical tensions, and added: “Growth in emerging market and developing economies has also been revised down to 3.9 percent for 2019, owing in part to trade and domestic policy uncertainties and to a structural slowdown in China. The uptick in growth in 2020 is driven by emerging market and developing economies that are projected to experience a growth rebound to 4.6 percent in 2020.”
An inspiring seminar on Women, Work and Leadership was delivered by International Monetary Fund Managing Director Kristalina Georgieva – the first person to lead the IMF from an emerging market economy (Bulgaria).
EU Commission Deputy Director-General Marjeta Jager called for innovative finance and partnerships between the public and private sector to implement Agenda 2030 and the Sustainable Development Goals. The well-attended seminar – entitled Sustainable Development Goals: Making It Happen – was held in the International Monetary Fund’s headquarters.
Other highlights included seminars and dialogue sessions on big tech and the future of finance, tackling inequality, trends in global energy, promoting women’s financial inclusion, tackling corruption and more.
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