Emerging countries left behind in economic recovery – IMF

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International Monetary Fund’s Managing Director Christine Lagarde has warned that most people living in emerging countries have been left behind the current global economic recovery.

Presenting the IMF Economic Outlook at the annual World Economic Forum in Davos, Lagarde says shared growth can only thrive through training displaced workers and providing new opportunities for youth and vulnerable workers.

The fund revised South Africa’s economic growth forecast downward from 1.1% to 0.9%. It raised its forecast for world growth to 3.9%, a 0.2% point increase from its last update in October.

“We need new opportunities for workers at risk and young people and women. Sharing is about global responsibilities, we need robust International Corporation if we are to tackle a shares problem that includes fighting corruption improving the international trading system, tackling tax evasion and addressing tax evasion issues.”

Meanwhile politicians, film stars and business people have been discussing the state of the world at a Swiss ski resort.

Day one of the World Economic Forum’s annual meeting in Davos has wrapped up now.

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