The global economy has shown remarkable resilience, but low-income countries are suffering from the scars of recent shocks
The global economy has undergone unusual crises and volatility over the past years. According to the IMF’s just-released outlook, the global economy has shown resilience and continues to grow but at a slowing pace. The recent slowdown is more pronounced in advanced economies than in emerging and developing countries. Overall, global growth in 2023-24 will be moderate compared to the historical average. The IMF points out that medium-term growth prospects have systemically weakened since the global financial crisis, especially for emerging markets and developing economies, implicating a