Global Economic Prospects, January 2019 - Darkening Skies World Bank GroupPaperback

The outlook for the global economy has darkened. Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum. Global financing conditions have tightened, industrial production has moderated, trade tensions have intensified, and some large emerging market and developing economies have experienced significant financial market stress.

Debt vulnerabilities in emerging market and developing economies, particularly low-income countries, have increased. Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes. More frequent severe weather events would raise the possibility of large swings in international food prices, which could deepen poverty.

In this difficult environment, it is of paramount importance for emerging