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World Bank President Banga meets VP Kamala Harris

World Bank President Banga meets VP Kamala Harris
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Financial distress intensifying in emerging market, developing economies – World Bank

Global growth has slowed sharply and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid elevated global interest rates, the World Bank’s latest ‘Global Economic Prospects’ report shows. Global growth is projected to decelerate from 3.1% in 2022 to 2.1% this year. In EMDEs other than China, growth is set to slow to 2.9% this year from 4.1% last year.

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