World Bank President Jim Yong Kim said continued uncertainty following the U.K.'s vote to leave the European Union could hurt global growth.
"We actually thought the U.S. was solid, the eurozone seemed to be getting better, even Japan seemed to be doing a little bit better," Kim said Sunday on the sidelines of the Group of 20 finance ministers and central bankers meeting in Chengdu, southwest China. "Brexit was a big hit, and we're still trying to understand exactly what the implications are, but it looks like global growth will be disappointing again."
Even before Brexit, the World Bank in June cut its outlook for global growth to 2.4 percent from 2.9 percent seen in January as business spending sags in advanced economies and commodity exporters in emerging markets struggle to adjust to low prices. In April, Kim cautioned that the global economy can't cope well with more uncertainty.
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