IMF predicts 2.8% global growth in 2023, led by Asia-Pacific. G20 shows divergence with weak manufacturing but strong service sectors and labor markets.
Collaboration key amidst uncertain economy, Zambia's debt restructuring and $100bn SDR pledges highlight global cooperation. Monetary policy must manage financial instabilities caused by strict measures. Global inflation high, caution urged against premature easing to maintain progress. Consistent monetary approach and supportive fiscal policy crucial for disinflation, buffer building, and debt sustainability.
Medium-term outlook lacks promise, growth projected around 3%, below historical average. Economic fragmentation risks hindering global challenges like rising debt and climate change. More support needed for nations facing climate change, high costs, and interest rates.
Multilateral institutions play vital role, IMF pledges adaptability and stronger resources. Strong G20 leadership essential for resilient international financial system. Global response crucial for sustainable growth.
