Global economy still slowing, dangerously vulnerable

SYDNEY and KUALA LUMPUR: In an annual ritual early in the year, most major economic organizations have released forecasts for the global economy in 2020. Incredibly, almost as a reminder of where financial power resides in this day and age, the International Monetary Fund (IMF) released its forecasts at the World Economic Forum’s 50th annual meeting in Davos.

Although the IMF revised its global economic growth prognosis slightly downwards from its October 2019 forecast, it still offers the most optimistic prospect of 3.3 percent growth in 2020. The World Bank’s forecast of 2.5 percent — identical to the United Nations estimate — is the lowest, with the Organization for Economic Co-operation and Development’s (OECD) at 2.9 percent.