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Global Prospects and Policy Challenges

IMF, (2014), “Global Prospects and Policy Challenges”, Meetings of G-20 Finance Ministers and Central Bank Governors, 22–23 Φεβρουαρίου, Sydney, Australia.

Global growth has strengthened as expected in recent months, largely driven by advanced economies, where easier financial market conditions and gradually improving consumer and business confidence have supported growth. While emerging economies have benefited from the stronger external demand, domestic demand has remained weaker than expected in many of them, reflecting in part tighter financial conditions. Many emerging markets have come under renewed market pressure recently. While the trigger is difficult to identify, events are occurring against the backdrop of weakening emerging economy sentiment, including on China, increased risk aversion, and continued UMP tapering. While global growth is projected to continue increasing, the recovery is uneven and fragile and significant downside risks remain.

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