The World Bank has cut its global GDP forecast.
I had talked to us about what is happening in the global economy.
There is a slow down on their base. We had remarkable growth last year.
This year. You can see four point one and two next year.
This is a big surprise. No. Significant policies supported Bonds last year. It is possible to find accommodations of course.
There was a top demand. Policies support this withdrawal as demand is dissipating. There is a two track.
Recovering in the sense that just bought the advanced economies and emerging market and there will not be slowing economies.
The time is 00:49 down. Look at the advanced economies. They are still flowing. All of these economies are going away.
The Greek crisis trend upward balance value. Look at the developing economies. They are on their way.
For the poor son in law. Can you tell me about the head trip prior to the Pandemic trying to level out?
There are some debt levels out there. A lot of nations had to increase their debt for very valid reasons.
Loads year. The consumer and household levels have interesting trends with regards to debt. What is it?
Factor in your forecast. We saw a significant DAX before the outbreak.
The time is 01:42place. We will not leave if we have this conversation in 2019. You will discuss the next crisis.
The death from the Pandemic. In 2020 we saw the largest increase in debt. That was necessary.
The support will be provided at 02:00. There was fiscal accommodation in the economies. There was a high deficit because of the high debt.
There was no evidence that support was being withdrawn. Governments are trying to improve their balance.
There are sheets with debt. You have to slow down. This is making challenges. You face a quicker than expected.
Monetary policy in the United States is being tightened. Some countries are crawling over difficulties.
The debt levels are elevated. Do you think revenue goes to servicing debts? As you have seen.
Some of those countries are unable to lock in low rates and some of them have debt levels that are too high.
The levels continue to rise. How much of a burden will that be now? When you look at something.
They will look at the economies. Their debt levels are already in debt distress.
I'm happy that you asked the question, because it's something global community needs to address.
Quickly. Debt challenges in low income countries. These countries can't find the financing for how.
While dealing with education. There is still a health crisis. It's going to be important. We have a strong one.
The system addresses the challenges in low income countries. Okay. There needs to be some sort of support. Maybe.
Fiscal support for some emerging markets in June. I'm interested in what you have to say.
There is a lot of uncertainty about what the World Bank will say going forward. Uncertainty is exceptional.
Your global president has been talking. David Malpass is one of those people. When we hear about something.
Fed Chair Paul asked how much of the uncertainty is wrapped around my monetary policy.
There is a health care health crisis. There are multiple dimensions to uncertainty or exceptional uncertainty. I think two months ago.
I thought you were going to overcome the epidemic. There is a type of way we are dealing with. We have never seen it before.
Six months ago we thought inflation was going to be short-lived. The RTX doesn't think inflation is.
Going to be more persistent. B revised our expectations. So we are going to get normalized of quantitative.
There are still supply disruptions out there. You still have debt issues to contend with.
It was discussed. You can never underestimate the challenges associated with climate change.
There are disasters. We are trying to get policies around the world to change. We are.
These types of transitional periods have always been challenging but full of uncertainty. When you are.
Emerging market developing economies don't have much gas in the tank and they are flying low.
There is policy space. If they encounter more obstacles. You have a chance of landing hard on us. Some of these will.
I believe it will turn into serious threats. One of the links we saw between the developed and the developed was before the Pandemic.
The global supply chain was of course the developing world. In our global there was an interconnectedness.
The economy broke down during the Pandemic. Do we return to a global supply chain?
Are we headed towards something that looks a lot different? Certainly in the epidemic.
The supply chains were remarkably resilient. We saw a lot of good waves around the world.
There were disruptions. There is a supply side to that story. There's also a demand side. You saw the demand.
Last year there was a lot of demand that put additional. There is pressure. The hope is that supply chains will stay.
Even strengthen. They will have a better understanding of how to manage them.
They started off today. There is trade integration. Supply chain integration resulted in large dividends.
Emerging market developed economies. The hope is that the overcomes will show up as soon as possible.
It is possible. In the shortest time possible, wipe out as many people as possible. These supply chain disruptions are going to happen.
Under control. We've made gains in figuring out some of the inequalities in this world. But during.
A lot of the progress had been lost. When do you see the progress being made?
Some of the pre-pandemic levels of wealth inequality were present.
The truth is that this final damage is all about inequality. You cut its value when you look at advanced economies.
Developing economies. You know poorer countries. The per capita is basically decoupled.
Lower income countries have higher income growth rates. Look at access to education and health services.
D.C. There are differences between those who have the means and those who don't. Of course when.
You think about the job losses that are concentrated in poorer segments of the society.
There are sectors. It will be difficult to overcome the increasing inequality caused by the Pandemic. In the short term.
We are raising this issue to attract recovery and the need for policy makers at the global level as well.
To be able to work together at the national level to address policy issues, not just think about them.
The Pandemic has left deep scars. As long as those scars are there, we should.
Expect a bigger challenge down the road.
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