By Deodat Maraj
Earlier this week, the International Monetary Fund (IMF) revised its forecast for global growth in 2022, projecting a revised figure of 4.4% which is a 0.5% reduction from the estimate it made in October 2021. It is expected that the developing world will be most affected by this contraction.
This news from the IMF comes whilst the coronavirus pandemic continues to take its toll on the global economy and wreak havoc in our region as it enters its third year. Simultaneously, the clock is ticking on action to tackle the climate crisis. The steps we take now will determine how our region will evolve in response to these urgent challenges shaping the global trade landscape.