“At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead,” said world Bank chief executive Kristalina Georgieva. “As economic and financial headwinds intensify for emerging and developing countries, the world’s progress in reducing extreme poverty could be jeopardised. But every developing world region except east and south Asia would see poverty levels stagnate at best this year, the bank said. Georgieva said the fall in global growth could largely be blamed on slowdowns in the US, Europe and Japan. The World Bank has come into focus this week following the resignation of its president, Jim Yong Kim, who quit to join a private investment firm with more than three years of his second term left to run.

Source: The Guardian January 08, 2019 21:00 UTC