Finance Finance News Global economy positive: World Bank chief

Global economy positive: World Bank chief

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The head of the World Bank says growth in the global economy is proceeding in a positive way but there still is a lot of work to be done to make sure it lasts.

Jim Yong Kim on Tuesday said it was important for the United States to solve its budget-debt brawl in early 2014 because any kind of uncertainty impacts upon the global economy, particularly those of developing countries.

He said some European countries’ economies were bouncing back compared to nine months ago when there was doubt about whether the euro would survive and Greece might stop using that currency.

Kim said there was concern at the slowdown in developing countries’ economies early in the year but that seems to be abating with China, for example, doing better.