The clouds over 2020

The last few months have brought us an avalanche of downgraded forecasts from all international and private sector financial institutions and think tanks

The world economy, according to the official declarations at the IMF and the World Bank’s annual meetings in Washington early this week, is not getting into a recession. Yes, the 3 per cent global growth this year is the lowest since the 2007 financial crisis but 2020 is expected to be better with overall growth rising to 3.4 per cent. However, the fact is that since the beginning of the year, we have seen a steady deterioration of economic prospects all over the globe. The last few months have brought us an avalanche of downgraded forecasts from all international and