The World Bank has issued a dire warning: economies almost everywhere will slow down significantly this year. In its twice a year check-in, the multilateral lender slashed its global growth forecast to 2.9%. That's lower than the January prediction of more than 4%, and about half of last year's expansion. Officials describe this year's challenge as a 'perfect storm' caused by convergence of several dark clouds.

For more on global economic outlook, Equiti Capital market analyst David Madden joined us from London.

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