Uncertainty from trade tensions and slowing global growth is increasing the need...
- Uncertainty from trade tensions and slowing global growth is increasing the need for developing countries to pursue reforms that make them more attractive to private investment, World Bank President David Malpass said on Friday.
The World Bank in its annual Global Economic Prospects report earlier this month forecast that slowing trade and investment flows would cut global growth this year to 2.6 percent, down 0.3 percentage point from previous forecasts. Malpass, who took over as World Bank president in April after two years in the Trump administration as the U.S. Treasury’s top diplomat, said he is also focused on countries’ internal development and ways to grow internal commerce between cities and regions.
“We’re keeping an eye on it,” Malpass said of the U.S.-China trade dispute. “It’s critical that countries retain investor confidence given the uncertainties.”
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