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Statement by Christine Lagarde, President of the ECB, at the forty-eight meeting of the International Monetary and Financial Committee
IMF Annual Meetings, 14 October 2023
Introduction
Following the devastating earthquake in Morocco, I wish to express my heartfelt solidarity with the Moroccan people as well as with the victims of other recent natural disasters.
Although the global economic outlook has remained broadly the same since our previous meeting in April, growth prospects across major economies have been changing, with the outlook for major advanced economies proving more resilient than expected. However, the recovery prospects for the global economy remain fragile amid persisting geopolitical tensions, stemming in particular from Russia’s invasion of Ukraine, rising trade fragmentation and the possibility of renewed financial sector stress. Global headline inflation is receding, but underlying inflationary pressures remain persistent as labour markets continue to be…