The IMF’s diagnosis was that of a “synchronized slowdown” across the globe with the Fund revising its growth projection for global economic growth downwards and putting the 2019 growth estimate at the lowest level since the 2008-2009 financial crisis
This year’s Annual meetings of the IMF and the World Bank in Washington DC revealed a growing preoccupation with the mounting signs of a slowdown in the world economy. The IMF’s diagnosis was that of a “synchronized slowdown” across the globe with the Fund revising its growth projection ...
... improved innovations sector and greater competitiveness. For now, Mariano Rajoy’s government, wary of the opposition and electorate, is sticking to cautious statements avoiding any long-term economic strategy.
Prospects
As the sovereign financial crisis and lower international ratings barred the PIGS from servicing their state debts, their gradual recovery from this catastrophic decline was only possible thanks to external credit lines provided by the European Union and the IMF. Except for Spain, assistance hinged on sweeping reforms, mostly aimed at consistent budget consolidation through curtailing spending and hiking taxes, which were developed and strictly monitored by the creditors. Along with the liberalized labor ...