With this backdrop, the International Monetary Fund (IMF) expects the world economy to grow at no more than 3.0% in 2024. Extreme weather-related events, such as floods, heatwaves, and hurricanes, may also cause severe economic disruption.
Although recent efforts to combat inflation are showing signs of success in many countries, the risks brought to light by supply chain disruptions, rewiring of trade relationships, and ongoing geopolitical tensions will complicate economic growth worldwide.
Navigating the changing contours of the global economyĪ slowing global economy coupled with a divergent economic landscape will challenge the banking industry in new ways in 2024.
