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By International Finance Corporation
At the 53rd World Economic Forum (WEF) in Davos last week, the term polycrisis weaved its way into the conference rooms to define the compounding crises that have entangled the world and slowed global growth.
For the private sector, the headwinds of rising inflation, economic slowdown, and increased debt burdens, are threatening to roll back recent development gains. Gavin Thorpe reports on the global macroeconomic outlook and what it will take for the private sector to ride out the storm, particularly in developing economies. We then explore this issue further in a live discussion with the World Bank Group’s leading economists, Susan Lund and Ayhan Kose, who delve into the 2023 Global Economic Prospects report.
IFC Managing Director Makhtar Diop, who attended the WEF meeting, says that one of the critical solutions is to ‘mobilize more capital going to developing countries by de-risking investments.’ He talks about IFC’s innovative financing solutions to tackle global challenges on WEF’s Meet the Leader podcast.
We hope our insights reflect not only the global challenges but also the private sector solutions for a resilient future.