BERLIN – The risk of a global recession has largely been averted, but growth will be modest, a German government official said, referring to International Monetary Fund forecasts to be released later on Tuesday.
“The global economy is growing, but it's not growing very dynamically. In other places like here, it's not growing at all,” one of the people said.
Therefore, structural reforms are needed, they added.
“Over the medium term, the outlook for global growth is also unsatisfactorily low,'' a source said.
The IMF Spring Meetings, to be held this week in Washington, D.C., come at a difficult time, exacerbated by the recent Iranian attack on Israel.
In between meetings, G20 finance ministers and central bank governors will hold two meetings, each focused on one topic.
Wednesday night will discuss climate finance, followed by a meeting on Thursday morning on strengthening multilateral development banks.
Officials said no communiqué was planned.
German Finance Minister Christian Lindner and Bundesbank President Joachim Nagel called on the IMF to refocus on its core mission in a co-authored guest editorial published in Germany's Handelsblatt newspaper on Tuesday. Ta.
“Financing development policy agendas is not the IMF's primary mission, but rather should be left to institutions such as the World Bank,” Lindner and Nagel wrote ahead of the spring meetings.Reuters
