Geoeconomics, geopolitics have worsened the economic outlook
In March, the World Bank released a book noting that the world economy is likely to face a lost decade in 2021-30. The International Monetary Fund (IMF) has followed the World Bank’s pessimistic outlook with its own. In April and October, IMF and World Bank hold meetings with member countries. In the meetings, IMF releases its flagship publications: the World Economy Outlook (WEO) and the Global Financial Stability Report (GFSR). While the WEO focuses on the global economic outlook and projects growth rates across the world, the GFSR discusses the global financial conditions and emerging risks to global financial stability.