People pass under a welcome sign for the IMF and World Bank annual meetings in Lima, Peru, Tuesday, Oct. 6, 2015. The meetings are taking place Oct. 6-11. (AP Photo/Martin Mejia)
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Kick-starting the sluggish global economy and funding the climate-change fight top the agenda this week as finance ministers and central bank chiefs from around the world gather in Peru.Setting the stage for the annual meetings of the International Monetary Fund and the World Bank, the IMF cut its 2015 growth forecast for the world economy Tuesday to 3.1 percent, predicting the worst year since the global recession of 2009 .After decades of break-neck expansion, the world's second-largest economy is set to slow to 6.3-percent growth next year, its lowest rate in 25 years, the IMF predicted.The gloomy outlook tempers the good news last weekend from the World Bank, which reported that extreme poverty will fall this year to less than 10 percent of the global population for the first time.The economic pain is particularly acute in Latin America, which had not hosted the IMF annual meeting since the 1967 edition in Rio de Janeiro, Brazil.
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