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Another Slow Year for the Global Economy

Mody, Ashoka, (2016), “Another Slow Year for the Global Economy”, Project Syndicate, 4 January

Last April, the International Monetary Fund projected that the world economy would grow by 3.5% in 2015. In the ensuing months, that forecast was steadily whittled down, reaching 3.1% in October. But the IMF continues to insist – as it has, with almost banal predictability, for the last seven years – that next year will be better. But it is almost certainly wrong yet again.

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