GIM - Global Growth Plateaus As Economic Risks Materialize
By Maurice Obstfeld, the Economic Counsellor and Director of Research at the International Monetary Fund
The latest World Economic Outlook report projects that global growth will remain steady over 2018-19 at last year's rate of 3.7 percent. This growth exceeds that achieved in any of the years between 2012 and 2016. It occurs as many economies have reached or are nearing full employment and as earlier deflationary fears have dissipated. Thus, policymakers still have an excellent opportunity to build resilience and implement growth-enhancing reforms.
Last April, the world economy's broad-based momentum led us to project