Justin-Damien Guénette presents the highlights of the January 2021 edition of the Global Economic Prospects report. In a nutshell, although the global economy is emerging from the collapse triggered by COVID-19, the recovery is projected to be subdued. The pandemic has exacerbated the risks associated with a decade-long global wave of debt accumulation. It is also likely to steepen the projected slowdown in potential growth over the next decade, undermining prospects for poverty reduction. With weak fiscal positions severely constraining government support measures in many countries, an emphasis on ambitious reforms is needed to rekindle robust, sustainable and equitable growth.
Speaker: Justin-Damien Guénette is a senior economist in the Prospects Group of the World Bank. Previously, he served as director of international model development at the Bank of Canada. His work experience includes research and policy work on macroeconomic modelling, forecasting, emerging markets and energy commodities. He is one of the lead authors of the flagship Global Economic Prospects report, which presents the institution’s view on the global economy and associated policy challenges for developing countries. He also coordinates the World Bank’s Global Monthly report, which monitors major macroeconomic, financial and commodity market developments. Justin-Damien holds an M.A. in global governance and economics from the University of Waterloo.
Moderator: Robert Fay, CIGI
Robert (Bob) Fay is the managing director of digital economy at CIGI. The research under his direction assesses and provides policy recommendations for the complex global governance issues arising from digital technologies.