Global economic expansion is expected to strengthen in 2014. Growth is likely to accelerate in most major developed and emerging-market economies. However, a number of downside risks to global growth and financial stability persist. The International Monetary Fund (IMF) has highlighted very low inflation as one of key risks to economic activity in developed economies, especially the euro area. According to the IMF, financial market volatility and potential capital flow reversals are major concerns for emerging-market economies.
