Global economic prospects, January 2019

The outlook for the global economy has darkened. 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. Faced with these headwinds, the recovery in emerging market and developing
economies has lost momentum. Downside risks have become more acute and include the possibility of disorderly financial
market movements and an escalation of trade disputes. Debt vulnerabilities in emerging market and developing economies,
particularly low-income countries, have increased. 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 market and developing economies to rebuild policy buffers while laying a stronger foundation for future
growth by boosting human capital, promoting trade integration, and addressing the challenges associated with informality,

Perspectivele economiei globale s-au intunecat. Conditiile de finantare la nivel mondial s-au inasprit, productia industriala s-a moderat, tensiunile comerciale s-au intensificat, iar unele economii mari de piata emergenta si economii in curs de dezvoltare au cunoscut un stres semnificativ pe piata financiara.