President of the World Bank Ajay Banga stated on Monday that the global economy is ailing but will recover.

The World Bank has reduced its forecast for global economic growth in 2024 from 2.7% to 2.4%, citing global monetary tightening.

The global economy is in difficulty.

Banga stated on the margins of a G20 conference in Gandhinagar, India, “It has outperformed everyone’s expectations, but that doesn’t mean there won’t be more challenges.”

Predictions are not destiny. Banga asserted, “We can alter our destiny.”