At a news conference marking the start of their annual spring meetings, the International Monetary Fund and the World Bank said 70 percent of the global economy is caught in a slowdown. The IMF expects world economic growth to decline to 3.3 percent this year. The IMF and World Bank fear that trade tensions, debt distress, and poor policy making could make the situation even worse. IMF Chair Christine Lagarde also warned that developing countries are not benefiting from growth in industrial nations to the same extent they have in the past.
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