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Added on the 02/04/2019 11:39:21 - Copyright : AFPTV - First images
The World Trade Organization on Wednesday dramatically lowered its global trade forecast for 2023, as Russia's war in Ukraine and other shocks take their toll on the world economy. 'Today the global economy faces multi-prong crises. Monetary tightening is weighing on growth across much of the world,' WTO Director-General Ngozi Okonjo-Iweala told reporters in Geneva. SOUNDBITE
Global trade growth is expected to plummet by up to a third in 2020 due to the new coronavirus pandemic, the World Trade Organization says. "If the pandemic is not brought under control then governments failing to coordinate policy responses, the the decline could be 32% or more," World Trade Organization chief Roberto Azevedo says during a virtual news conference in Geneva. IMAGES
The managing director of the International Monetary Fund, Kristalina Georgieva warns that "the cumulative losses of trade conflicts could get us to about $700 billion by 2020" in a speech in Washington ahead of IMF-World Bank autumn meetings next week SOUNDBITE
"In 2019, we expect slower growth in nearly 90 percent of the world. ... the world economy is now in synchronized slowdown," says the newly-installed IMF chief Kristalina Georgieva in a speech ahead of IMF-World Bank annual meetings next week. SOUNDBITE
Commodities come under huge pressure again and the Baltic Dry Index - seen as a leading economic indicator - hits its lowest level ever. Kirsty Basset reports on the latest alarm bells to ring over the global outlook.
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