Bright or turbulent? Mixed views on global economy’s prospects

Bright or turbulent? Mixed views on the global economy’s prospects The IMF and World Bank spring conference has been hearing mixed views on the immediate prospects for the global economy. IMF Chief economist Pierre-Olivier Gourinchas reckons that ‘turbulence is building and the situation is quite fragile’. But U.S. Treasury Secretary Janet Yellen felt that the future looked reasonably bright, and cautioned against ‘overdoing the negativism’. The IMF also raises concerns about the sudden failures of Silicon Valley Bank and Signature Bank in the United States, and the loss of market confidence in Credit Swiss. The fund warned that global financial stability risks have increased rapidly in the last few months because banks didn't prepare adequately for interest rates increases. And – we report on a novel way of increasing productivity in Bangladesh – providing workers with free glasses to improve their eyesight.