IMF's Georgieva: Current pace of global growth remains quite weak

<p>IMF's Georgieva weighs in on global economic trends. Like the Fed sees rates higher for longer. </p><ul><li>Current pace of global growth remains quite weak.</li><li>Global growth is well below 3.8 pre-pandemic average</li><li>Stronger demand for services, progress on inflation boosted chances for soft landing, but vigilance essential</li><li>Fighting inflation remains top priority</li><li>Warns that inflation will remain above target for some countries until 2025</li><li>Medium-term growth prospects have weakened further.</li><li>Winning fight against inflation requires interest rates to remain higher for longer. </li><li>US, India are bright spots, but most advanced economies are slowing and China's output below expectations.</li><li>Estimates cumulative global output loss from successive shocks since 2020 amounts to $3.7 trillion.</li><li>Sudden resurgence of inflation could lead to sharp tightening of financial conditions.</li><li>Warns of significant risks on fiscal front in many countries, higher interest rates have increased debt burdens.</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.