1 I would like to start by thanking the organizers for the invitation to speak at this panel. Several years after the outbreak of the global financial crisis, the world economy continues to display a weak performance, despite the recovery that has taken place since then.
Following the rebound observed in 2010, the growth rate of global GDP has been on a declining trend, averaging 3.5 percent annually during the period 2011-2016, a full percentage point below its precrisis trend.