World Economic Outlook, April 2024: Steady but Slow: Resilience amid Divergence

Author: International Monetary Fund. Research Dept.

Volume/Issue: Volume 2024 Issue 001

Publication date: April 2024

ISBN: 9798400255892

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Economics- Macroeconomics , International - Economics , global growth , inflation , economic projection , monetary policy , housing markets , medium-term growth , spillovers , advanced economy , monetary policy transmission , housing channel , housing market characteristic , economy-sector pair , middle-income economy , IMF staff calculation , Emerging and frontier financial markets , Housing prices , Mortgages , Total factor productivity , Global , Caribbean , Middle East and Central Asia , Europe , Central America , inflation expectation , interest rate hike , debt restructuring processes , commodity market development , Sub-Saharan Africa

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Summary

The latest World Economic Outlook reports economic activity was surprisingly resilient through the global disinflation of 2022–23, despite significant central bank interest rate hikes to restore price stability. Risks to the global outlook are now broadly balanced compared with last year. Monetary policy should ensure that inflation touches down smoothly, while a renewed focus on fiscal consolidation is needed to rebuild room for budgetary maneuver and to ensure debt sustainability. Structural reforms are crucial to revive medium-term growth prospects amid constrained policy space.