Global growth faces ‘serious headwinds’, World Bank warns

Trade conflicts threaten to strengthen inflation and keep interest rates high this year while stalling growth among the world’s poorest nations will hamper efforts to reduce poverty, World Bank researchers have said.

Global economic growth has slowed to such an extent that it “will be insufficient to foster sustained economic development” in the coming decades, the World Bank warned in its latest forecasts.

The Washington-based organisation, which focuses on raising living standards in developing economies, said global growth would stabilise at 2.7 per cent in 2025 and 2026, the same rate as last year.

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This pace of expansion would be unable to “offset the damage done to the global economy by several years of successive

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