27 days ago
The Financial Express
G20 finance ministers and central bank governors will discuss a coordinated approach to deal with inflationary pressures, boosting global growth, debt vulnerabilities of developing countries and sustainable financing for urban infrastructure at their meeting on February 24-25 in Bengaluru. There are indications that the global growth slowdown would have implications for global trade, Seth said. International Monetary Fund (IMF)’s January 2023 World Economic Outlook Update projected that global growth would fall to 2.9% in 2023 but rise to 3.1% in 2024. Global inflation is expected to fall from 8.8% in 2022 to 6.6% in 2023 and 4.3% in 2024, still above pre-pandemic (2017–19) levels of about 3.5%, IMF said. India would likely propose G20 countries help debtor nations by asking lenders, including China, the world’s largest sovereign creditor, to take a large haircut on loans.
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