Jim Chalmers has warned of a ‘confronting’ shift in the economic outlook, ahead of a series of high-level talks in Washington.
Treasurer Jim Chalmers has warned of a “confronting” shift in the economic outlook, ahead of a series of high-level talks in Washington with global finance ministers and central bank governors.
Dr Chalmers said higher interest rates had exposed vulnerabilities in parts of the international banking system, adding to the already significant challenges of high inflation and the ongoing impacts of ”With rising geopolitical tensions, with inflation still running high, a robust recovery remains elusive,” Dr Georgieva said in a speech. “That harms the prospects of everyone, especially for the most vulnerable people and most vulnerable countries.”
“There could not be a more important time to take the temperature of the global economy, as we carefully calibrate the settings of the May budget.”While in Washington, Dr Chalmers is expected to meet with counterparts including US Treasury secretary Janet Yellen, UK Chancellor of the Exchequer Jeremy Hunt and Canada’s Deputy Prime Minister and Minister for Finance Chrystia Freeland.
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