Davos: Outlook brighter than feared, fraught with risks

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The week-long meeting of the WEF at Davos was dominated by debate on a brewing dispute between the US and Europe on subsidies for green energy transition, the growing debt distress in developing nations and abundant geopolitical risk around the planet.

International Monetary Fund Managing Director Kristalina Georgieva told the Davos audience that what had improved was the potential for China to boost growth.While that was likely to prompt the IMF in coming days to upgrade its current forecast of 2.7% growth for the year ahead, she cautioned against expecting any"dramatic improvement" on that figure.

"My deepest concern is clearly the war in Ukraine," French Finance Minister Bruno Le Maire told the panel. "The key question is not China First, US First, Europe First. The key question for all of us is Climate First," said Le Maire, who will travel to Washington in coming days alongside German officials to discuss possible changes to the US plan.

Source: Financial Digest (financialdigest.net)

 

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