What is the IMF's prediction for global economic growth in 2030?

The IMF predicts the world's top 20 economies will grow by only 2.9% in 2030, the slowest pace since 2009.

What are the main concerns for the global economy according to the IMF?

The main concerns cited by the IMF are protectionism and policy uncertainty, which are dampening growth prospects.

Which leaders will be absent from the upcoming G20 meeting in South Africa?

Leaders from the United States, China, Argentina, and Mexico will miss the G20 meeting.

Home / Business and Economy / IMF Warns of Protectionism's Toll on Growth

IMF Warns of Protectionism's Toll on Growth

20 Nov

•

Summary

Global economy faces slowest growth since 2009.
Advanced economies project 1.4% growth by 2030.
Leaders from US and China to miss G20 meeting.

IMF Warns of Protectionism's Toll on Growth

The International Monetary Fund has issued a stark warning regarding the global economic outlook, forecasting the slowest growth for the G20 economies since the 2009 financial crisis. With a projected growth rate of just 2.9% for 2030, the report highlights significant headwinds from escalating protectionism and pervasive policy uncertainty.

Advanced economies within the G20 are expected to see particularly sluggish growth, with a forecast of only 1.4% by 2030. In contrast, emerging markets are anticipated to perform better, projecting 3.9% growth. This comes as key leaders, including those from the United States and China, are set to miss the upcoming G20 summit in South Africa.

The IMF urges G20 nations to collaborate on reducing trade barriers and fostering policy clarity. The report suggests adopting transparent trade policy roadmaps and avoiding restrictive elements in trade deals to mitigate risks and improve the global economic trajectory.