The International Monetary Fund (IMF) revised up its expectations for global economic growth this year after highlighting that the world economy is still resilient, but it warned that the outlook remains cautious amid persistent inflation and geopolitical risks.
The fund released the latest edition of its report on the World Economic Outlook on Tuesday, ahead of the 2024 Spring Meetings of the World Bank Group (WBG) and the IMF, which will take place from April 19 to 21 in Washington, D.C.
The new forecast calls for global growth of 3.2 percent this year and next, a slight increase of 0.1 percentage point from its January assessment and 0.3 percentage point from the one made in last October.
Though the global economy remains resilient, growth is uneven and challenges lie ahead, said the report.
In addition, growth in China is projected to slow from 5.2 percent in 2023 to 4.6 percent in 2024 and 4.1 percent in 2025, remaining unchanged from the previous report.
Global inflation is forecast to decline steadily, from 6.8 percent in 2023 to 5.9 percent in 2024 and 4.5 percent in 2025, with advanced economies returning to their inflation targets sooner than emerging markets and developing economies, according to the report.
Most indicators point to a soft landing.
IMF ups global growth forecast, but warns of challenges ahead
Protests persist at the University of California, Los Angeles (UCLA), one of the top public universities in the United States, demanding a ceasefire in Gaze and divestment from companies linked to Israel.
Protesters have gathered and built a protest encampment outside the Royce Hall in support of Palestinians since last Thursday.
The UCLA rally came one day after a pro-Palestinian protest over the Israel-Hamas war was staged at the Los Angeles campus of University of Southern California (USC), where 93 protesters were arrested Wednesday night by the Los Angeles Police Department after hours of clashing with the police.
Sunday even witnessed a brief skirmish between pro-Israeli and pro-Palestinian demonstrators at UCLA. Both sides had remained peaceful until Sunday as the size of the encampment expanded in recent days and counter-protesters have become increasingly vocal and visible on the campus.
The clash led to a larger police presence on the campus. Barriers have been set up by campus security to create a buffer between the encampment and the rest of the university community.
Some said that the encampment and barriers are now starting to disrupt their daily lives.
Organizers of the "UCLA Palestine Solidarity Encampment" said in a statement that "we will not be silent while Gaza is being annihilated."
"You know, if it does disrupt UCLA, that's kind of the goal, because we are trying to get UCLA to sit down at the bargaining table and talk about divestment," said Kaia Shah, the encampment spokesperson.
The protests have received growing support not just from students but also employees at the university.
"I support the people who are against the genocide in Palestine. And I think we should stop! A ceasefire should come into effect and stop killing people," said a staff member.
Pro-Palestinian protests continue at UCLA
