IMF/WB Annual Meetings: traditional answers to emerging challenges won't cut it
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The IMF/WB Annual Meetings recognised the limits of central bank policy. A position on how and when fiscal stimulus should occur, however, was inconclusive.
- The IMF has cut its global growth forecasts to their lowest level in a decade.
- With economic momentum forecast to slow, there is increasing focus on economic resilience.
- As central banks reach their limits, fiscal policy will pick up the baton. But there is no consensus yet as to how and when this will occur.
- There is going to be increasing discussion and policy focus on climate change risks.
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