the global economy is expected to grow a paltry 3% over the next five years, according to the head of the international monetary fund. her comments were made ahead of the imf and world bank s spring meetings, which kick off today in washington. our north america business correspondent samira hussain is there. high inflation continues to plague countries around the world. central bankers are raising interest rates to try and slow down those price increases. as a result, however, is we have some of the weakest growth projections by the international monetary fund since the 1990s. now, with the world s finance ministers and central bankers all meeting in washington this week, the increasingly fragile global economy will certainly be the focus, along with ways for countries to try and mitigate some of the negative impacts of those interest rate rises. now the high inflation, however, is already having an impact on poorer countries, pushing them further into financial distress. gi
next year, if they really succeed in lifting demand. right now, the focus is on actually getting the economy back on track. a private weather forecaster, skymet, has said it expects the indian monsoon to be deficient this year, even though the government s official agency, the indian meteorological department, has predicted normal rainfall for the country. lower rains could have severe implications on india s farm driven economy at a time when the country is already facing high food inflation. our india business correspondent nikhil inamdar sent this report. deficient rainfall could hurt india s agricultural productivity because 50% of its farms are not irrigated and that could impact crop yields. also, this comes in the backdrop of unseasonal rains severely damaging winter crop, so india s agrarian economy could, in fact, see a bit of a double whammy. now, what skymet has essentially said is that it expects a greater likelihood of el nino type conditions, which means that asia
worker, the walmart worker, fast food worker what we did for the auto worker and steel worker. not only is it important for equality. if we want economic growth. people talk about lifting demand. we need more demand to get the economy primed. how do we lift demand? the federal government can spend as much as it wants building roads. we have to create a middle class. setting a humane, decent wage floor $10 isn t enough. go to $15 and in some cases $20. that s humane and decent. that s where what the workers need to be in middle class again. look at what ctac did raising the minimum wage to $15 an hour. is it feasible nationwide? i hope to god our country can do this. none of us likes being in a third world nation. i call it the 66%, not the 99. a third of us are doing pretty good. media people, knowledge workers,