WASHINGTON D.C., Jan. 13, 2015 - Kaushik Basu (front), World Bank chief economist and senior vice president, speaks to the press at the World Bank headquaters in Washington D.C., the United States, on Jan. 12, 2015. The World Bank on Tuesday cut its global growth forecast for 2015 and lowered the estimate for 2014, as several headwinds mitigate the effects of an improving U. S. economy and plunging oil prices. In its latest flagship report Global Economic Prospects, the World Bank projected a growth rate of 3 percent for the global economy in 2015, down 0.4 percentage point from its June forecast. That followed an estimated 2.6 percent growth in 2014.

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Kaushik Basu, World Bank chief economist and senior vice president, speaks to the press at the World Bank headquaters in Washington D.C., the United States, on Jan. 12, 2015.

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