Global Finance Magazine quotes Eric LeCompte on the growing inequality since the start of the COVID-19 pandemic. Read an excerpt below and click here for the full story. 

IMF and World Bank Annual Meetings

Post-pandemic economics hobble infrastructure growth.

By Rob Daly

As finance ministers and central bankers from more than 190 countries gather in Marrakesh for the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, what optimism they have is tempered by the flare-up of Middle East violence that threatens to spread and post-pandemic economic realities.

The global economic recovery since the pandemic's start remains uneven, as Kristalina Georgieva, managing director of the IMF, noted in her curtain-raising speech. “[T]he current pace of global growth remains quite weak, well below the 3.8% average of the two decades before the pandemic,” she said. “And looking ahead over the medium term, growth has weakened further.”

The World Bank estimates that the global economy has lost $3.7 trillion in global output, which has hit the lower-income emerging economies the hardest. Meanwhile, the US economy has returned to pre-pandemic growth rates.

 

Read more here.