The International Monetary Fund (IMF) said on Wednesday that global economic output is expected to be about 3% lower in 2024 than projections made before the coronavirus pandemic, Reuters reported.
Systemic financial stress was largely avoided in the COVID-19 crisis, but recovery remains a challenge for some countries, the IMF noted in a blog post, which summarizes its updated World Economic Outlook report.
“Unlike what happened during the global financial crisis, emerging market and developing economies are expected to have deeper scars than advanced economies, and losses are expected to be greater among low-income countries “added the IMF.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
