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      "text": "Tightening monetary environment to curtail inflation; Concerns on debt sustainability; Heightened geopolitical risk; Weakening global trade; Slowing GDP growth",
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      "text": "Monetary policy tightening to curtail inflation led to the US Fed and ECB raising rates 11 and 10 consecutive times respectively. The ECB raised policy interest rate by 25 basis points to 4% in September. On the other hand, the Federal Reserve and BoE held the interest rate steady in September. But the Federal reserve stiffened its hawkish stance by projecting further rate increase by the end of the year. As the fight to bring inflation back to target continues, the IMF expects global interest rates to remain high for quite some time",
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      "text": "In 2022, global public debt – comprising general government domestic and external debt – reached a record $92 trillion. Developing countries owe almost 30% of the total, of which roughly 70% is attributable to China, India and Brazil. Economies already susceptible to weaknesses may encounter additional rises in borrowing expenses. Several nations, including Zambia, Sri Lanka, Ghana, Pakistan, and Tunisia, face mounting challenges in servicing their debts",
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      "text": "China's trade performance showed a 8.8% (y/y) decrease in exports and a 7.3% drop in imports in August. While the United State' recorded a slow growth in import and export (y/y) by 1.7% and 1.6% respectively. Due to supply chain disruptions and national security concerns trade restrictions by countries have increased significantly. These trade policy actions could pose a serious threat to global prosperity",
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      "text": "Elevated levels of global energy and commodity (oil, uranium and grain) supply risks from political tensions in Gabon, Niger and the Russia-Ukraine conflict. These geopolitical challenges is coupled with the coalition of voluntary supply cuts led by Saudi and Russia. Fueled by the pandemic and Russia's war in Ukraine, the IMF foresees an increasingly fragmented world For instance, FDI is now increasingly driven by geopolitical preference",
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      "text": "Global GDP growth is expected to slow down with economic projections falling short of historical growth. IMF projects that GDP growth in the United States, the EU and the UK is expected to decline to 1.8%, 0.9% and 0.4% respectively in 2023",
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      "text": "Key global trends",
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