Midterm prospects of global economic growth and economic activity remain low, the International Monetary Fund (IMF) said in its report, released before the G20 Finance Ministers and Central Bank Governors Meeting in Sao Paulo, Brazil, on February 28-29.

Axar.az reports citing foreign media.

"The global economy appears on track for a soft landing, but activity and growth prospects remain weak," IMF said.

"Medium-term growth prospects remain subdued—reflecting secular trends and challenges including weak productivity growth, aging, geoeconomic fragmentation, and climate vulnerabilities. These trends also undermine income convergence and increase the vulnerability of economies to external shocks," IMF experts added.