#EUCO | Special EU summit, 17-18 April 2024.

On the EU leaders' agenda:
📌Competitiveness and the single market
📌Ukraine
📌Türkiye
📌Middle East

More info 👉 europa.eu/!VYD7Jg

We project growth in emerging market and developing economies to hold steady at 4.2% in 2024 and 2025. This is a modest upgrade from our October forecast and reflects improvements for emerging and developing Asia and Europe. Read more in the latest WEO. imf.org/en/Publication…

The Georgian people have chosen the European path and in response, the European Council granted #Georgia the candidate status last December.

Let me be clear: the draft Law on Transparency of Foreign Influence is not consistent with Georgia’s EU aspiration and its accession…

The global economy expanded 3.2% in 2023 amid ongoing disinflation & is expected to grow at the same pace in 2024-25. At 5.9% in 2024, global inflation is expected to continue to ease. (1/6) imf.org/en/Blogs/Artic…

Risks to the outlook are now broadly balanced. Key downside risks include commodity price spikes, financial stress due to persistent inflation, faltering growth in China and disruptive fiscal adjustment. (3/6) imf.org/en/Blogs/Artic…

We project less economic scarring from the crises of the past four years, although estimates vary across countries. But there will be more scarring for low-income developing countries, which are still struggling to turn the page from the pandemic and cost-of-living crises (2/6)

To strengthen medium-term prospects, policymakers should:
– Gradually reduce debt
– Implement structural reforms
- Continue to improve policy frameworks
– Promote global trade integration
– Invest in climate & digitalization
More in my blog. (6/6) imf.org/en/Blogs/Artic…

Central banks face a delicate balance - cutting rates too soon could reignite inflation, while delaying easing too long may lead to overtightening. (5/6) imf.org/en/Publication…

With inflation coming down, rebuilding fiscal buffers & ensuring debt sustainability are priorities. Governments should target support to vulnerable groups. (4/6) imf.org/en/Publication…

imf.org/en/Blogs/Artic…

Central banks must remain vigilant along the last mile in the fight against inflation, as progress could be stalling in some economies. See our new blog for more.

JUST RELEASED: The global economy grew by 3.2% in 2023 amid ongoing efforts to bring down inflation. We project similar growth of 3.2% for 2024-2025 as inflation is expected to fall to 4.5% by 2025. Read more in our latest World Economic Outlook. imf.org/en/Publication…

🇧🇪🇪🇺 Under the Belgian Presidency, the EU institutions, social partners and civil society signed an Interinstitutional Declaration endorsing the European Pillar of Social Rights as the cornerstone of the EU's social agenda.

#EU2024BE

We have to work to end the crisis. We need an immediate & sustainable ceasefire & the release of the remaining hostages.

There will be no regional stability, no enduring peace in the region if the Gaza war continues and if the Israeli-Palestinian conflict is not resolved.
4/4

An escalation would also increase the suffering in #Gaza .

Let’s not forget Gaza!

We must address the catastrophic humanitarian situation.

The amount of deliveries of humanitarian aid has increased very little compared to the needs.
3/4

A spiral of attacks & counter-attacks must be avoided. If the level of the response increases each time, we'll end up w/ a full-scale war. The region doesn't need it, the world doesn't need it.

We are at the edge of an abyss, said António Guterres. Need move from there.
2/4

I chaired the extraordinary EU #FAC following the Iranian attacks against Israel.
We were united in:
- condemning the attacks
- committing to Israeli security
- preventing an escalation & calling all actors to restraint
- increasing sanctions to Iran
- not forgetting Gaza.
🧵1/4

Despite the resilience of the global economy, challenges persist. Policymakers must carefully calibrate monetary policy to bring inflation to target, rebuild fiscal buffers and address historically weak medium-term growth prospects. See Pierre-Olivier Gourinchas' blog imf.org/en/Blogs/Artic…

Global growth will be steady at around 3.2% this year and next as inflation continues to moderate, according to the latest IMF World Economic Outlook. Most indicators continue to signal a soft landing. imf.org/en/Blogs/Artic…

IMF Growth Forecast: 2024
🇺🇸 US: 2.7%
🇩🇪 Germany: 0.2%
🇫🇷 France: 0.7%
🇮🇹 Italy: 0.7%
🇪🇸 Spain: 1.9%
🇬🇧 UK: 0.5%
🇯🇵 Japan: 0.9%
🇨🇳 China: 4.6%
🇮🇳 India: 6.8%
🇷🇺 Russia: 3.2%
🇧🇷 Brazil: 2.2%
🇲🇽 Mexico: 2.4%
🇸🇦 KSA: 2.6%
🇳🇬 Nigeria: 3.3%
🇿🇦 S. Africa: 0.9%

imf.org/en/Publication…