Statement by Ignazio Visco, Governor of the Bank of Italy Constituency of Albania, Greece, Italy, Malta, Portugal, San Marino, and Timor-Leste Development Committee, Washington D.C., October 8, 2016  1. Introduction  Global growth remains disappointingly anaemic.
Adverse long-term trends in advanced economies – low productivity growth, aging populations – combined with the slowdown in emerging economies and especially heightened geopolitical risks result in a high degree of uncertainty which prompt firms to scale back their investment plans. If we do not act to reverse this situation a self-fulfilling trap of low growth may take hold.