The Emerging Challenges of "Policy" Normalisation As I mentioned earlier, the recent IMF and World Bank Annual Meetings noted improved global growth, spread broadly over both developed and emerging economies, as well as reduced market turbulence. Importantly, growth in world trade has also resumed after a period of stagnation.
Moreover, it was pleasing that this optimism was tempered by realism, including warnings of continuing underlying risk from several quarters. Equally important was the call to use this window of opportunity, of the relatively benign prevailing conditions, to "fix the roof", including undertaking the much-needed structural reforms.