The global economy is still marred by shocks and uncertainty. Financial markets remain volatile and the geopolitical situation continues to be tense. International food, energy and commodity prices have eased but uncertainties do remain. Inflation remains high and broad-based across countries. The IMF has projected contractions in over one-third of the global economy. 25.
Culture and interaction between people is a necessary ingredient of our lives, independent of economic developments. Draghi: I completely agree. One could even say that literature, music, performing arts and fine arts provide inspiration that helps to bring about economic prosperity. Commerce and culture are dependent on one another! 2  BIS central bankers’ speeches