World Bank boss warns global growth could disappoint

David Malpass, the president of the World Bank, has warned that global growth could fall short of the 2.6 per cent rate it predicted in June, in the latest sign of concern in multilateral institutions about the direction of the world economy.

In a speech in Montreal, ahead of the World Bank and IMF’s annual meetings next week, Mr Malpass warned that global growth was “slowing” and said he expected it to be even lower than the forecast from four months ago due to “Brexit, Europe’s recession, and trade uncertainty”.